Elon Musk, the visionary entrepreneur and business magnate, has undeniably made a significant impact on various industries. With his relentless pursuit of innovation and his audacious ventures, Elon Musk has become synonymous with pushing the boundaries of what is possible. Elon Musk's remarkable achievements, from co-founding PayPal to leading SpaceX and Tesla, have solidified his reputation as a trailblazer in the technology and space exploration realms. It is Elon Musk's visionary mindset and unwavering determination that have propelled him to the forefront of the global stage. When it comes to disruptive ideas and groundbreaking advancements, Elon Musk's name is always at the forefront, serving as an inspiration to many aspiring entrepreneurs and visionaries alike. The world eagerly awaits the next chapter in Elon Musk's extraordinary journey, as he continues to revolutionize multiple industries and redefine what it means to be a true innovator.
Elon Musk poses a humorous question: "If I'm so smart, why did I pay so much for Twitter?" Despite being worth $229 billion, Musk playfully reflects on his decision to spend $44 billion on a takeover. Speaking at a conference in Paris, he admits that the deal was costly but justifies his purchase by highlighting his active presence on the platform. Concerned about Twitter's potential negative impact on civilization and civil society, Musk saw the acquisition as an opportunity to steer the platform towards a more positive direction. He expressed his hope for Twitter to become a constructive force for society rather than a corrosive one.
The wealthiest individual on the planet asserted that Twitter had undergone significant improvements since he assumed control in late October. Elon Musk stated that the overall experience for regular Twitter users had notably enhanced. He claimed to have eradicated approximately 90% of bots, scams, and other malicious activities on the platform. Moreover, he highlighted the removal of 95% of child exploitation material, which had persisted for a decade and came as a shock. During the same day, Musk had a lunch meeting with Bernard Arnault, the second-richest person in the world and CEO of LVMH, at the company's Cheval Blanc hotel. The content of their discussion remains undisclosed. Onstage at the conference, Antoine Arnault, Bernard Arnault's son, humorously questioned Musk about how much longer he would allow Tesla's market value of $818 billion to overshadow LVMH's $476 billion, thereby "making LVMH look so bad."
In response to Antoine Arnault's comment about Tesla's market value surpassing LVMH's, Elon Musk remarked, "Valuations are a strange thing because sometimes I've said the stock price is too high at Tesla, and then the stock price goes up and I'm like 'okay.' When I tweet it's too high, it almost always goes up. In the case of Tesla, the value of the company is primarily based on autonomy."
Tesla reached its highest valuation in late 2021, surpassing $1.2 trillion. However, the stock has experienced significant fluctuations this year, dropping as low as $113. As of Friday, Tesla shares were trading at $261. The dynamic nature of Tesla's stock price has made valuation assessments an intriguing and unpredictable aspect of the company's journey.