Elon Musk addresses Twitter takeover, projects growth despite Tesla sales drop

Elon Musk gave a strong indication that his purchase of Twitter is indeed on track.

He said the social media platform he’s looking to acquire is currently overvalued but has incredible potential.

Musk agreed to buy the company in April for $44 billion, or $54.20 a share, but walked away from the deal in July.

As markets for Tesla. inc tanked this spring and summer, Musk started disparaging shortly after he agreed to buy it.

Tesla shares have reportedly fallen by 5%, however, Musk said the demand for the electric vehicle is looking good for Q4 in 2022.

Tesla is likely to do a buyback that is scheduled to happen in 2023 potentially costing between $5-$10 billion.

However, Twitter shares went up a notch by 1.49% at $52.60 per share.

Elon Musk is the richest man in the world with a net worth of $220 billion in 2022.