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Abandon purchase of Twitter for $44 billion

When Elon Musk announced his offer to buy all of Twitter shares at $54.10, the stock price increased to $51.70. The market cap was $39.5 billion (based on 764 million outstanding shares).

Since then, the stock price dropped 25% to $38.20. The market cap dropped by 24% to $29.2 billion. This followed the possible withdrawal of the offer.

If Elon Musk proceed to buy Twitter at $44 billion, he would have lost $15 billion, based on the market cap today.

It is better for Elon Musk to pay the penalty of $1 billion and withdraw from the purchase. He can proceed to build his own social media platform and call it Town Square.

 

Tan Kin Lian

 

 

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READER COMMENTS BELOW

14 Responses to “Abandon purchase of Twitter for $44 billion”

  • All CIA Arms:

    Twitter, youtube, all part of US warfare. Why bother to buy them?

    https://hiindia.com/2022/05/24/youtube-boss-explains-russia-strategy/

    When the conflict in Ukraine broke out, YouTube “realized this was an incredibly important time for us to get it right, with regard to our responsibility,” Wojcicki said in an interview with Fortune editor-in-chief Alyson Shontell, part of this week’s annual meeting of the globalist forum.

    “What we’re really seeing in this conflict is that information does play a key role, that information can be weaponized,” Wojcicki added.

    YouTube has made “really tough decisions,” she said, such as shutting down accounts of Russian media not just in the EU – which imposed a controversial ban in early March – but globally. This was done on the basis of the platform’s internal policy, although they had received “lots of requests from various governments” to do so, Wojcicki revealed.

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  • panyusg:

    Elon with his massive wealth can easily create Muskitter. It is about millions signing up. It is about the famous people signing up as 99% are unknown and few will bother with their tweets.

    Twitter is just a platform, a huge post office. Nothing more.

    Internet is Free. Twitter, FB, WhatsApp and hundreds of social media uses the same Internet.

    Might as well provide easy access in Africa to Internet…it is the lack of transmission stations. Will not even take 1 billion to blanket Africa with transmission towers.

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  • Twitter twit:

    Twitter is where many Only Fans content creator advertise their videos.

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  • Xiao liao:

    Just pay a walkway fee of $1 billion then bye bye, case closed – this is what a EP candidate, potential SG President says so.

    Mr Tan, looks like a pig is smarter than you in buying and selling of companies, mergers and acquisitions, and in the laws of Corp raiding.

    My simple question – are you privy to EM/Twitter default walk off, abandon agreement? Post a copy of the legal doc here for readers info. And don’t forget, SEC’s governing laws and sub laws.

    If not, have sex with spiders. There are 100s of spiders waiting for your dicky.

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  • xoxo:

    Ya,better not for Elon to take over Twitter.
    If so,expect him to change Twitter into TRIMPeter???

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  • myfirstscrew:

    Elon Musk is a cuxx, he has been doing market manipulations for many things.

    This hoax about stirring twitter and then abandoning it due to bots is purely another prank.

    Next he is being sued by air stewardess for sex request.

    Yes he is smart aleck but he is really another cuxx.

    Tech: Me no play stocks, but is it possible that Musk short-sold Twitter’s shares?

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  • theforgottongeneration:

    Probably Elon Musk is beyond the understanding of ppl like TKL. These are ppl that bet on electric vehicles and space travel as the vision forward when nobody dared. Meanwhile our million$ clowns can only think of importing cheap labor, increasing GST (after overspending in 2-years of covid), installing a kelong president, fixing Opposition and Mee Siam without Hum. Oh yeah, and paying themselves million$, of course. SG need really visionary leaders, not paper generals, nor daddy’s boy, nor Free Riders (e.g. entering parliament thru the GRC system), nor pappies-doggies carrying balls everyday.

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  • US very lost:

    Why bother about Twit when US cannot even make enough baby food? The western world has gone nuts. They make weapons, but cannot make baby food.

    They make toxic baby food:
    “However, the FDA was made aware of multiple crimes and shady health practices as early as October 2021, when a whistleblower report reached their desks. The FDA did not inspect the plant until January 31, 2022, and the recall was not issued until February 17, 2022. The company, of course, promised to investigate itself, but a spokesperson has already said the formula from the facility in question “is not likely the source of infection in the reported cases” and “there was not an outbreak caused by products from the facility.” The FDA, however, found that many health regulations were violated and that harmful bacteria was present within the production line of baby formula.”

    https://www.politico.com/news/2022/04/28/whistleblower-fda-baby-formula-00028569
    Whistleblower warned FDA about formula plant months before baby deaths

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  • There are plenty of very good and excellent programmers and technology R&D personnel in China. Just look at Tencent, Alibaba and TikTok, the facts speak for themselves.

    At a budget of US$44 billion, even a noob like me would be able to create/setup another Twitter-like platform within less than a year, with the combined functions of Wechat, QQ, TikTok and TianYa, including the game farms, chatrooms and whatnots.

    According to some programmers I used to chat with at Tencent, it will take them less than a month to setup a heavy-duty chat and/or blogging platform just with a small team of 7 of them. There are plenty of instant modules which can be used to piece such a platform together, only special functions then they will need to write from scratch.

    Once the platform is ready, at least 100 million users will be instant members since they are Musk’s followers on Twitter. It will not be from square one, working from the bottom up.

    Head-hunt the programmers from Tencent, Alibaba and TikTok, how difficult is that? Hell, if push comes to shove, buy over their entire R&D department! $44 billion wor, that how much in RMB???

    Shall we call it Musketweet? And one call from Musk to that Facebook playboy in Sinkieland, we can sync the 2 platforms together.

    What say you Elon Musk? lol

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  • John Doe:

    TRE Tech:
    There are plenty of very good and excellent programmers and technology R&D personnel in China. Just look at Tencent, Alibaba and TikTok, the facts speak for themselves.

    At a budget of US$44 billion, even a noob like me would be able to create/setup another Twitter-like platform within less than a year, with the combined functions of Wechat, QQ, TikTok and TianYa, including the game farms, chatrooms and whatnots.

    According to some programmers I used to chat with at Tencent, it will take them less than a month to setup a heavy-duty chat and/or blogging platform just with a small team of 7 of them. There are plenty of instant modules which can be used to piece such a platform together, only special functions then they will need to write from scratch.

    Once the platform is ready, at least 100 million users will be instant members since they are Musk’s followers on Twitter. It will not be from square one, working from the bottom up.

    Head-hunt the programmers from Tencent, Alibaba and TikTok, how difficult is that? Hell, if push comes to shove, buy over their entire R&D department! $44 billion wor, that how much in RMB???

    Shall we call it Musketweet? And one call from Musk to that Facebook playboy in Sinkieland, we can sync the 2 platforms together.

    What say you Elon Musk? lol

    I agree there are many good and capable tech geniuses in PRC.
    Sorry no offence and nothing against them per se. But do bear in mind, they are smart in the sense of robbery, theft and hacks into others intellectual properties.
    Of course one can say everybody does this and that. But in terms of prowess of originality, sorry PRC came late, stole alot of others ideas, then improve, enhance or other wise.
    So what’s it tt PRC is proud of to boast.
    PS. And rmb, the playing field is unlevel – many American I T Cos are disbarred or disallowed to operate within PRC.

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  • @John Doe

    I agree, there are those who put their skills to questionable usage, but this happens all over the world, India, Taiwan, USA, you name it right?

    But back to the point, surely Alibaba’s platform wasn’t “stolen” and clearly it was built from scratch (Jerry from Yahoo did helped during the initial stage), surely QQ wasn’t “stolen”, it was built from scratch, right? Or else some companies would be crying father crying mother and suing tencent and Alibaba now, agree?

    So admit that there are plenty of talents in China who could do the job that I mentioned on my comment about the $40 billion from Musk. That was my only point, that they can do the job.

    I doubt one would be hard-pressed to find such a competent team in Sinkieland to accomplish what I mentioned, maybe the IT team from Shoppee (Forrest) could (not sure if they are all locals though) and maybe even the original team from Creative (Sim) who created the Sound Blaster?

    Ah.. Challenger to Creative, used to start very very small with shops in Orchard Plaza and Far East Plaza… I used to hang around in their stores playing and helping in the assembly and sale of their Apple compatibles and IBMs look-alike. Then they expanded to Funan and became big big, had wanted to join the company but NS obligations screwed every plan up.

    Gone are the good old days of simple PC, no internet to confuse us. How time flies…

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  • US very lost:

    Typical white man mentality.

    White men did lots of stealing from colonies. US did lots of commercial stealing up to today, even stealing oil from Syria.

    China has the long term strategic foresight to ban American IT Cos, cause they turn up to be spies and saboteurs.

    John Doe: PS. And rmb, the playing field is unlevel – many American I T Cos are disbarred or disallowed to operate within PRC.

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  • theforgottongeneration:

    @TRE Tech and John Doe

    Unquestionably China has many tech talents. But simply transposing what Elon can/will do in other countries into what can be done in China may not be realistic. Talent or funding is not the question – it is the regulatory framework and authoritarian control in a society that matters. In a country with 177-ranked media, so simple meh? And look at China tech shares now – dropping like no bottom.

    Tech: You are mistaken, I am not suggesting the setup to be based in China, talents can be recruited to work on an oversea project, no? I am merely suggesting that for a budget of $44 billion that Musk supposed offered, it can be done even with talents from China.

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  • Elon:

    Elon is very smart type.
    No need to teach him.
    He know what to do….all part of his grand plan.

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