Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Tesla shares sink amid concerns about Elon Musk's proposed takeover of Twitter

Tesla shares sink amid concerns about Elon Musk's proposed takeover of Twitter

Elon Musk's offer to buy Twitter has yet to be approved by shareholders but investors in his car-maker Tesla are already concerned.

Tesla shares sank 12.2% overnight, wiping $126bn off the company's value amid investor concern that chief executive Elon Musk might sell his shares to fund equity for his $44bn buyout of Twitter.

The drop in Tesla shares would equate to a $21bn drop in the value of Mr Musk's stake in the car-maker - the same as the $21bn in cash he has promised to put towards the Twitter deal.

OANDA senior market analyst Ed Moya warned: "If Tesla's share price continues to remain in freefall that will jeopardise his financing."

Analysts also said investors are worried that Mr Musk, who also runs SpaceX, tunnel digging firm The Boring Company, and computer-brain interface company Neuralink, will be distracted by the social media company and less interested in running Tesla.

Edward Jones senior equity analyst Jeff Windau said: "He's going to be spending more time with another venture.

"There's a potential limit on the amount of bandwidth that you can apply to each of these companies."

Twitter shares also fall


Twitter's shares were also down on Tuesday - falling 3.9% to close at $49.68.

Mr Musk agreed to buy the company on Monday for $54.20 per share in cash.

The gap between his offer and Twitter's actual share price reflects investor concerns that the decline in Tesla shares - which provide the bulk of Mr Musk's fortune - could lead him to have second thoughts about buying Twitter.

Amazon founder Jeff Bezos has also asked whether Mr Musk's deal to buy Twitter will give China "a bit of leverage" over the platform, as Tesla has a big plant in Shanghai.

Free speech concerns


Earlier on Tuesday, Mr Musk responded to concerns that his vow to turn Twitter into a haven for free speech could see an increase in the hate and disinformation the site has sometimes struggled to deal with in the past.

He tweeted on Tuesday night: "The extreme antibody reaction from those who fear free speech says it all.

"By 'free speech', I simply mean that which matches the law.

"I am against censorship that goes far beyond the law.

"If people want less free speech, they will ask government to pass laws to that effect.

"Therefore, going beyond the law is contrary to the will of the people."

Mr Musk uses his own Twitter account to post about technology and trade, occasionally answering questions from his 85 million followers.

But he has also posted jokes about women's breasts, compared Canada's prime minister to Hitler, and accused a rescue diver of being a "pedo" in the past.

The diver had criticised Mr Musk's proposal to use a submarine in the rescue of a group of boys trapped in a Thai cave. Mr Musk later won a defamation suit brought by the diver, saying he never intended "pedo" to be interpreted as "paedophile".

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
UK's Online Safety Law: A Front for Censorship
Parents Abandon Child at Barcelona Airport Over Passport Issue
Bus Driver Discovers Toddler Hidden in Suitcase in New Zealand
Switzerland Celebrates 734 Years of Independence Amid Global Changes
China Enforces Comprehensive Ban on Cryptocurrency Activities
Grok 4 Video plus Voice, can identify wildlife!
George Soros tells the World Economic Forum: "President Trump is a con man and the ultimate narcissist, who wants the world to revolve around him."
Hamas are STARVING the hostages.
The UK Does Not Have a ‘Far-Right’ Problem
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
JD Vance Warns Europe Faces “Civilizational Suicide” Over Open Borders and Speech Limits
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
House Republicans Move to Defund OECD Over Global Tax Dispute
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
Intel Reports Revenue Beats but Sees 81% Rise in Losses
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
CEO Resigns Amid Controversy Over Relationship with HR Executive
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
Tulsi Gabbard Unveils Evidence Alleging Political Manipulation of Intelligence During Trump Administration
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Trump Announces Coca-Cola to Shift to Cane Sugar in U.S. Production
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Air India Pilot’s Mental Health Records Under Scrutiny
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
Moonshot AI Unveils Kimi K2: A New Open-Source AI Model
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
×