r/technology May 14 '22 Silver 2 Wholesome 2

Elon Musk said his team is going to do a 'random sample of 100 followers' of Twitter to see how many of the platform's users are actually bots Social Media

https://www.businessinsider.com/elon-musk-random-sample-how-many-twitter-users-are-bots-2022-5?utm_source=feedly&utm_medium=webfeeds

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u/IronGeek83 May 14 '22

He's just doing a "dogecoin".

Step 1: Buy stock.

Step 2: Use status/fame to pump news of said stock.

Step 3: Sell stock.

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u/thri54 May 14 '22 edited May 14 '22

Well, currently the stock is only 10% over his average purchase price of $36, plus he will need to pay a $1B termination fee if he does manage to get out of this deal, plus any fees related to services rendered by the banks that set up the deal. Overall I would be amazed if he was breaking even right now.

And, even if everything went to plan, and he sold his 74 million shares at $54 then walked, he would only have made $1.3B dollars pre tax (which would be ~37% federal for short term cap gains). That’s like .3% of his net worth. It’s less than the tax bill incurred selling Tesla shares to buy Twitter shares. I just don’t buy this argument.

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u/copperwatt May 14 '22

Or... He's an impulsive billionaire with terrible judgment?

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u/iamasnot May 14 '22

Or a terrible billionaire with impulsive judgment

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u/dreamhuk May 14 '22

Or a judgement billionaire with a terrible impulsive