Elon Musk has found himself surrounded by another controversy, regarding the failed deal with Twitter. Apart from successfully running his automotive and clean energy company, ‘Tesla’, the multi-billionaire CEO is often spotted making incautious comments and replies over social media.
In April 2022, Elon Musk disclosed his stakes in Twitter, making him the single largest stakeholder on the social media platform. Many believed this could be a better era for Twitter as Elon Musk was positive to make it a better and more liberal platform for its users. However, the recent scenarios prove otherwise. As, the billionaire has hinted at a back-out from his upcoming deal of owning twitter, leaving the platform in an even worse state. This decision is largely affecting the business of Twitter and has been a great deal of concern from the financial and business prospects.
For many years, Twitter has been used by celebrities, famous personalities and politicians as a platform for sharing official statements. Though this platform was not intended to compete with fellow social media platforms like Instagram and Facebook. Twitter always tagged along as a trustworthy and reliable platform for the masses. After some disputes among its users, the brand image of twitter was largely affected and Musk came forward to declare his ownership of the company by purchasing stakes worth 73.5 million dollars.
This news broke on the internet and people were looking forward to optimistic changes. Now, this incident is nothing but a public and social taunt to Musk and his reputation. He is blamed for being an attention-seeking person, which directly affected the business including the morale of employees, misinformation, potential advertisers and many stakeholders. Hopefully, the situation would soon settle down, and Twitter will regain the brand image and financial aspects of the business in the coming days.