Elon Musk’s Twitter ownership has been a rollercoaster of firings, ad cuts, and chaos. It’s no secret that Musk is not one to shy away from controversy or making bold statements on social media, and this has often resulted in backlash and consequences for his companies.
One of the most notable examples of this was in 2018 when Musk tweeted that he was considering taking Tesla private at $420 per share. This tweet caused the stock price to spike and resulted in an investigation by the Securities and Exchange Commission (SEC). Eventually, Musk was forced to pay a $20 million fine and step down as chairman of the company.
Musk’s Twitter habits have also led to numerous firings within his companies. In 2019, he fired over 7,000 Tesla employees in a cost-cutting measure, citing “difficult but necessary Tesla reorg.” Some employees claimed they were fired without warning or justification, leading to tension within the company.
In addition to firings, Musk has also faced backlash for his use of Twitter to cut advertising budgets for his companies. In 2020, he announced that Tesla would no longer be using traditional advertising methods, instead relying on word-of-mouth and social media to promote the company. This decision was met with criticism as it was seen as a risky move that could potentially harm the company’s visibility.
Overall, Musk’s Twitter ownership has been full of chaos and controversy. While his bold statements and unconventional approaches may be seen as innovative by some, they have also resulted in significant consequences for his companies and employees. It remains to be seen how Musk’s Twitter habits will continue to impact his businesses in the future.
