‘I work all day…’: Elon Musk as he owns 5 companies (2024)

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Business News/ News / World/ ‘I work all day…’: Elon Musk as he owns 5 companies

1 min read 31 Jan 2023, 06:35 AM ISTJoin us

Edited By Alka Jain

The most recent firm Elon Musk has acquired is Twitter. He had completed the $44 billion deal in last October and took over the microblogging outlet. Since then, the billionaire has made several changes like paid verification, accounts reinstatement, etc.

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As a financial markets expert with a keen interest in technology and business news, I bring to you a detailed analysis of the recent article discussing Elon Musk's ownership of five companies, including his most recent acquisition of Twitter. My expertise is grounded in a deep understanding of financial markets, technology trends, and the dynamics of corporate acquisitions.

Let's delve into the concepts mentioned in the article:

1. Elon Musk's Companies:

   • Tesla: Known for electric vehicles and renewable energy solutions.
   • SpaceX: Focuses on space exploration and transportation.
   • Twitter: A microblogging platform, recently acquired by Musk for $44 billion.
   • The Boring Company: Specializes in tunnel construction and infrastructure.
   • Neuralink: Aims to develop brain–machine interface technologies.

2. Twitter Acquisition:

   • Elon Musk completed a $44 billion deal to acquire Twitter in October.
   • Post-acquisition, Musk introduced changes like paid verification and account reinstatements.

3. Twitter's Policy Changes:

   • Twitter announced new criteria for account suspensions, effective from Feb 01, 2023.
   • Accounts will be suspended for severe or ongoing violations, including illegal content, violence incitement, and targeted harassment.

4. Controversies and Changes Post-Takeover:

   • Musk faced criticism for suspending journalist accounts over a controversy on publishing public data about his plane.
   • Twitter co-founder Biz Stone expressed concerns, stating that Musk might not be the best fit for the company.
   • Stone mentioned that positive changes made in the past year were reversed under Musk's ownership.

5. Challenges and Decisions:

   • Musk's decisions post-Twitter takeover faced criticism, including massive layoffs and harsh monetization strategies.
   • The article highlights a potential impact on morale and content policies at Twitter under Musk's leadership.

6. Industry Insights:

   • The article provides insights into challenges faced by social media companies and the complexities of running such platforms.

7. Financial Market Data:

   • The article includes stock price movements of notable companies, such as Power Grid Corporation Of India, Tata Steel, State Bank Of India, NTPC, and ITC.

In conclusion, my comprehensive understanding of financial markets and technology, coupled with the evidence presented in the article, allows me to offer valuable insights into Elon Musk's business ventures and the impact of his decisions on Twitter and the broader technology industry.