Electric vehicle billionaire Elon Musk has expressed regret about selling his Tesla, Inc. shares as part of his multi billion dollar purchase of the social networking platform Twitter. Musk, who bought Twitter last year after much fanfare in the press, has had a rough couple of months at the site, especially since he has had to run three companies at the same time. The executive has also publicly criticized the network's previous management for 'managing' content on Twitter, and his latest statements suggest that the task of running one of the world's largest networks while his other company, SpaceX, races to a crucial flight test is causing some regrets to say the least.
Elon Musk Unable To Belive That He Bought Twitter For $44 Billion
In the months since he took over, Musk appears to have understood how difficult it will be to change how Twitter operates completely. He has been looking for a replacement for a Twitter CEO for a while now, and his current role at the firm also took an interesting twist in December when the executive decided to ask his followers whether they would like him to stay in the top position. His Twitter buyout saw him sell a massive amount of Tesla stock and also secure funding from Middle Eastern investors.
Now, Musk appears to be having second thoughts about the buyout - again. In a series of tweets, the executive responded to a follower outlining that they still couldn't believe that he had bought Twitter by stating that he couldn't believe it either. The executive went on to add that it "[s]ucks that I had to sell so much Tesla stock to do so (sigh)."
Since taking over, Musk has also instituted changes that he believes are essential for promoting a 'balanced' viewpoint on Twitter. Some of these which have stood out include former President Donald Trump after opening a poll and suspending Kanye West's Twitter account less than a month after reactivating it.
His Twitter poll, which asked followers whether they would like him to resign, received a whopping 17.5 million votes in total, with the majority, or 57.5% asking him to resign. The poll came just as Musk was visiting Qatar for the FIFA World Cup final, where he was reported to have met not only with President Trump's son in law, but also with his Saudi and Qatari investors.
The aftermath saw Musk, who is an avid 'tweeter,' take a long break of silence as he potentially considered his next plan of action. The silence ended with Musk confirming that he would indeed step down from the top role once he finds a suitable replacement and focus his efforts on running Twitter's technical teams instead.
Musk's Twitter tryst comes as his space company SpaceX is rushing to conduct perhaps the most important test in its recent history. SpaceX is testing its Super Heavy booster in Boca Chica, and is aiming to fire up the rocket's 33 engines at the same time for the first time soon. This test, if successful, will open the rocket up for a crucial orbital test flight once it receives approval from the Federal Aviation Administration (FAA). Industry reports have indicated that SpaceX's president Ms. Gwynne Shotwell has taken over operations at Boca Chica - and a rapid succession of tests in the site do end up lending credence to the reports.
The post Elon Musk Regrets Selling Tesla Shares For Buying Twitter & Still Can’t Believe It by Ramish Zafar appeared first on Wccftech.