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And More October 8, 2022 2 mins read

Elon Musk’s Twitter Deal Will be in His Favor, Says Shark Tank’s Kevin O’Leary

And More ı By Rochdi Rais

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Kevin O'leary - Shark Tank

Kevin O’Leary is siding with Elon Musk in his controversial Twitter deal.

The “Shark Tank” investor told CNBC’s “Squawk Box” on Thursday that he predicts Musk’s $44 billion offer to acquire Twitter will go through — and that it’ll end up going in Musk’s favor.

“I happen to have watched [Musk] forever, and I think this guy is Teflon man,” O’Leary said. “And he can obviously multitask. I bet on him in this deal. By the time all this stuff is over, I think he’s going to have a good outcome.”

Musk, who is the richest man in the world, has a net worth of $219.1 billion as of this writing. The billionaire has been hit with a legal dispute with Twitter’s board over a proposed takeover bid since April. The lawsuit against Musk came after the CEO of Tesla attempted to ditch the deal after initially agreeing to buy the social media platform for $54.20 per share. However, Musk said this week that he wanted to avoid litigation by returning to his original deal.

Twitter refused to oblige, and a Delaware judge ruled that Musk has until October 28 to close the acquisition if he wants to avoid a trial.

“It’s a terrible company,” O’Leary said. “I use the platform, too, and I look at the metrics versus all the other [social media companies], including Tiktok and LinkedIn and Instagram and Facebook. It’s the worst in terms of getting your message out.”

In its fourth quarter last year, Twitter had an average of 217 million daily users, according to Twitter’s 2021 annual report. Meanwhile, Meta’s platforms collectively had an average of 1.93 billion users in December 2021.

″[Tesla] is the only car company on Earth that pays nothing on advertising,” O’Leary said. “He [advertised] it on the back of Twitter and other social media platforms. Very few people get to own their own unregulated network.”

 

 

 

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Rochdi Rais

Rochdi Rais is the Head of Growth and financial and legal writer at USA Herald. He has been writing and editing financial, legal and U.S. news for years with over +4000 articles published during his career.

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