Elon Musk Effect on Twitters Business and Brand Equity
Effect on Share Price, Twitter Business, Employees, CEO and Exec Team Elon Musk who leads Tesla and Space X announced buying Twitter for $44 Bn supported by venture capital firm Andreessen Horowitz, the crypto exchange Binance, and Oracles CEO Larry Ellison. This helped the falling share price to rise again. On July 10 he announces to pull out because of a lack of clarity on users (primarily bots) and financials and since then the price has fallen back to the same price of $33 when the deal was announced to acquire. Prior to this deal, the share price was in decline from early 2021. It is likely that it now goes into litigation and worst for Musk will be to pay $1Bn in the penalty, but it has a detrimental effect on Twitter's business, employees (morale), and more importantly, its brand equity will take a severe hit, resulting in further decline. Twitter CEO and his executive team will not survive this fiasco.