In 2022, Elon Musk and his purchase of Twitter were two of the events that garnered the most media attention. Musk, the world’s wealthiest man and CEO of Tesla and SpaceX, had long expressed interest in acquiring Twitter. He claimed that his preference for free speech and the platform’s absence of it were problems he wanted to solve. When he bought the company last year, he helped to make it so. Musk began by buying individual shares and worked his way up to becoming the sole owner of 9.2% of the business through his investment. However, he made an approach to purchase Twitter outright in April, giving $43 billion to acquire all of the company’s shares, which works out to $54.20 per share.
However, after the purchase, it has not been all rosy for Musk and Twitter. Users’ complaints about added features or helpful ones that were removed have hurt the product as a whole. When Musk assumed control of the business, major layoffs occurred and many of the controversial figures and radicals that Twitter had banned were making a return under the guise of free speech. There are ads everywhere, even in the comment areas, and you can spend $7.99 per month to have your account verified.
Musk’s wallet also took a hit. When he accepted debts against his Tesla stock, the valuation of the company’s stock market fell by more than $100 billion the following day.
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Given the upheaval, betting sites have offered chances on whether Musk will exit the company by December 31 or not. If you place a “No” wager on him resigning, BetOnline.ag will give you chances of -250, making it a strong favourite. On the other hand, the bet that he will actually sell is at +170.
Will the SEC file charges against or fine Musk?
Some people have been against Elon Musk’s acquisition from the beginning, and he even conducted a survey on his Twitter account asking followers whether he should resign as the company’s CEO. Musk announced that he will resign “as soon as I find someone foolish enough to take this job”. This came after 57.5 per cent of the votes in his survey were “yes.”
In addition, there are wagers on whether Musk will face charges or penalties from the US Securities and Exchange Commission in 2023. His “shoot from the hip” posting manner on his personal channel increases the likelihood that the SEC will charge him again, as it has in the past.
Both “Yes” and “No” on the SEC fine/charge bet come in at -120.
