Elon Musk

On Tuesday, the electric vehicle maker’s equity valuation dipped below US$500 billion in mid-day trading for the first time since November 2020.

Musk said he hopes to find “someone else to run Twitter,” reducing the number of multibillion-dollar companies he helms back to two.

The Musk-Twitter saga started when the billionaire acquired a 9% stake in the firm back in April and within weeks announced a bid to acquire it at a massive premium.

The world’s richest person has now sold US$19.3 billion of Tesla stock since announcing his Twitter takeover.

Users with Twitter Blue can post longer videos and have their content prioritized.

The Saudi royal tweeted “Dear friend “Chief Twit” @elonmusk Together all the way @Twitter.

Musk fired Twitter CEO Parag Agrawal and other top executives as his US$44 billion deal closed, CNBC first reported.

The number of “heavy tweeters” is in “absolute decline” amid a downturn in interest for news, sports and entertainment content, Reuters reported.

Musk has until October 28 to close the deal or face a trial in November.

Twitter shares initially rose 13% early Tuesday afternoon after Bloomberg reported Musk’s purchase agreement is back on, and the price kept rising after a midday trading halt ended.