The purchase of Twitter also puts Elon Musk under pressure from investors. The Tesla founder has suffered significant losses since last year. According to Bloomberg, the richest man in the world has lost almost $100 billion.
Entrepreneur Elon Musk has been under public pressure since taking over Twitter. Financially, things have not been particularly good for the richest person in the world either: he has lost around 92 billion US dollars since 2021, as “Bloomberg” reports. Accordingly, the shares of Musk’s other company Tesla were only traded at up to 186.75 US dollars. The automaker makes up the bulk of his fortune. According to Tesla, the drop in value is due to concerns raised by the electric car company’s investors after the Twitter acquisition.
As a result, Musk currently owns $177 billion. His fortune peaked at $340 billion last year when Tesla’s shares traded at a record $410. However, his current net worth has no bearing on his title as the world’s richest person, as Bloomberg further reports.
Musk bought Twitter for $44 billion in October. After that, he kept considering different methods to generate revenue for the company. For example, there was a subscription fee for most or all users, reported “The Verge”. A platform-wide payment barrier is also said to have been discussed.
Musk’s $8-month subscription service, Twitter Blue, is set to launch soon. This should enable every Twitter user to easily get a blue tick. This was previously reserved for the verification of government accounts and well-known personalities. In the new model, Twitter will not separately check the identity of the corresponding persons or organizations with blue ticks. But there will be a second verification symbol in the future. The new gray tick is given by Twitter, such as to government accounts or some public figures, and is not available for purchase. From now on, accounts can have both a blue tick and the new gray tick.
