It ’s no marvel Elon Musk is look at a subscription good example for Twitter , given that his tweet have in the past times cost him millions of dollars to post . In 2018 , he jokingly said he was " turn over taking Tesla private at $ 420 " , an apparent reference to " 420 " , a stoner term for smoke weed .
Though he found it funny , the Securities and Exchange Commission ( SEC ) did not . They labeled the tweet as " pretended and misleading " to investors , and ticket him $ 20 million , as well as an extra $ 20 million for Tesla . In a freestanding incident , he tweeted " Tesla origin damage too high-pitched IMO " andwiped $ 14 billionof his own company ’s value .
The trial by ordeal might have make him for some wildly - fluctuating values as he tried to in reality bribe the societal medium political program . Let ’s hope it has , as since he annunciate his intention to buy Twitter on April 14 , his nett worth hassunk by $ 49 billion . The tardy bead came on Wednesday , as his Charles Frederick Worth put down $ 12.3 billion in a day , reportsBloomberg .
A number of factors led to the fall , include the exclusion of Tesla from the S&P 500 ESG Index , which measures companies on environmental , social , and incarnate governance carrying out . Reasons for the riddance admit alack of item about its downcast carbon paper strategy , claims ofracial favoritism at the society ’s California industrial plant , andcrashes of autopilot vehicles themselves .
" A few of the factors contribute to its 2021 S&P DJI ESG Score were a declivity in criterion level score associate to Tesla ’s ( lack of ) low carbon strategy and codes of business demeanour , " anexplanation from the Indexread . " In accession , a Media and Stakeholder Analysis , a summons that seek to name a company ’s current and potential next photo to risks stemming from its involvement in a controversial incident , identified two separate events revolve about around claims of racial discrimination and poor working conditions at Tesla ’s Fremont manufactory , as well as its handling of the NHTSA probe after multiple deaths and injuries were linked to its autopilot vehicle . "
Musk was not too happy with the decision .
" Exxon is rated top ten honest in mankind for surround , societal & governance ( ESG ) by S&P 500 , while Tesla did n’t make the listing ! " Muskresponded in a tweet , add " ESG is a scam . It has been weaponize by phony social justice warrior . "
He went on to explicate ( in a tweet he has now pin ) that he would be voting Republican for the first sentence .
The enceinte free fall of $ 49 billion since he announce his purpose to buy Twitter is fuel partly by a extensive market tumble , as well as concerns about how he could fund purchasing his favourite social media chopine , with somequestioning whether he can really yield it at all . The problem could get risky if blood line at Tesla continues to fall .
" If Tesla ’s share price continues to stay in freefall that will threaten his financing , " Oanda senior mart analyst Ed Moya toldBBC News . Musk currently view thedeal on hold , pending an investigating into the percent of the site ’s exploiter that are bots , and faces a possible $ 1 billion charge if he pulls out of the deal entirely .
Musk hasgone on recordsaying that his purchase of Twitter is " not a way to make money " , adding " I do n’t care about the economic science at all " . The master charm of purchasing the land site , according to Musk ’s own statement , is to provide a " free speech " platform for debate . Let ’s hope that is true , as , at the moment , it is not doing not bad things for his camber balance . Not that he ’ll notice any material difference of opinion , as the world ’s richest valet de chambre .
