The expedition had a disastrous start four days later. Musk’s highly anticipated $7.99 per month service, “Twitter Blue,” which enables any user to purchase a blue tick authentication badge, was officially launched on Saturday.
- Tesla CEO Elon Musk is the world’s richest person again, after shares of the electric car maker rose about 24% in May, according to Eikon data.
- Musk’s wealth jumped 40.3% year-to-date to $192 billion, the Bloomberg Billionaires Index showed.
- Musk previously lost first place to LVMH CEO Bernard Arnault after shares of Tesla fell after his $44 billion acquisition of Twitter. Most of Musk’s wealth is tied to Tesla’s stock.
Tesla and now Twitter CEO Elon Musk has had his hands full with all of the Twitter shenanigans. After rolling out the new Twitter Blue for $7.99 with paid verifications, many users paid the money to cause a bit of havoc by impersonating brands and celebrities.
Shares of Tesla closed 1.38% higher on Wednesday at $203.93.
Tesla’s stock hit a two-year low in November when its share price dropped to $167.87, the lowest since November 2020. It was in part due to a sell-off that accelerated in the wake of Musk’s takeover of Twitter.
LVMH’s Arnault now trails behind Musk as the world’s second richest man at $187 billion, followed by Jeff Bezos, the billionaire founder of Amazon, according to Bloomberg data.
A user in control of a Twitter account that showed several parody labels paid $8 to be “verified” and sought to troll Tesla CEO Elon Musk with a barrage of tweets. “BREAKING: A second Tesla has hit the World Trade Center,” one of the satirical tweets read.
Blue for $8 per month,” tweeted Musk. The proposal was a part of the billionaire’s efforts to generate income for the platform, which was struggling financially before he seized control of it in a $44 billion transaction last month.
A Second Tesla Hit World Trade Center Overview
Following Musk’s decision to make the platform’s blue checkmark available to any consumer for a $7.99 monthly fee rather than just verified accounts that are of public interest, there has been a flood of lookalike accounts, including false profiles for former US President George W. Bush and NBA star LeBron James.
Elon Musk made ‘split-second’ decision on Tesla tweet after FT report, lawyer says
This is most likely to do with the fact that the new system was almost immediately highjacked by people buying their ticks and then pretending to be official Twitter accounts for big businesses like BP and Tesla, as well as ex president George W. Bush, and even Musk himself.
Twitter has already stopped people paying $8 for a blue tick after one chaotic day
The world’s richest man is said to have written via email: “Without significant subscription revenue, there is a good chance Twitter will not survive the upcoming economic downturn. We need roughly half of our revenue to be subscription.”