Elon Musk reportedly lost around $92 billion of his wealth after his Twitter takeover.
The world’s richest man is also said to be considering putting the platform behind a paywall, PEOPLE reported Tuesday. (08.11.22)
Bloomberg added that shares in Elon’s other trading company, Tesla Inc, which makes up the bulk of his fortune, were trading as low as $186.75 on Tuesday, with the drop apparently due to investors in the electric car company expressed concern about the businessman’s $44 billion. Twitter Purchase Agreement.
A 51-year-old father of 10, Elon is now said to be worth $177 billion, with his wealth peaking in 2021 at $340 billion when Tesla shares were at a record high of $ 410.
A source told the Verge that Elon and one of his advisers, venture capitalist David Sacks, discussed the platform-wide paywall idea in recent meetings.
The billionaire is under fire as several Twitter employees are suing him for allegedly carrying out a mass layoff in violation of the Worker Adjustment and Retraining Notice Act, which requires employers to give at least 60 days’ notice before being laid off.
The amount a user spends to get past the alleged planned paywall is believed to be in addition to the $8 Elon wants for Twitter users for his coveted blue check mark.
It is also struggling to maintain the site’s existing revenue streams after several advertisers quit over fears the platform is no longer a “safe place” for brands.
Famous faces including Whoopi Goldberg have also left the platform, with the comedian, 66, saying he had become “messy” since Elon’s inauguration, while horror writer Stephen King of 75 years old, criticized that the billionaire should pay him to stay on Twitter instead of charging for a blue tick.
Elon, who has branded himself “Chief Twit”, was also criticized on Tuesday (08.11.22) by Twitter users for posting a photograph of a WWII soldier with a box and three carrier pigeons on your back.
He said of the image, of a German soldier from the Wehrmacht, part of the unified Nazi armed forces, leading carrier pigeons on the Western Front during the German invasion of France, known as the Battle of France, “how times have changed”, and added: “Back when the birds were real. But if Twitter is a bird, that means….”