The Biggest Loser of Elon Musk’s Broken Twitter Deal Could Be Elon Musk
Elon Musk's one-sided termination of his $44 billion acquisition of Twitter has sent the social media company's stock plummeting.
Now faced with legal action taken by Twitter's board seeking to enforce the merger agreement, the world's richest person
will be put in an awkward position fighting a company of which he is the largest individual shareholder in court.
Twitter's share price is down more than 8 percent on the first trading day after Musk called off the deal on July 8.
Twitter stock closed at $32.64 today (July 11), which would translate into a net loss of $255 million
on the 73 million Twitter shares Musk owns.
He can also comfortably afford a $1 billion breakup fee if he is found in breach of the merger agreement with Twitter.
Check Out More Stories