ELON MUSK STEPPED DOWN FROM WORLD’S RICHEST POSITION, WHAT FOLLOWS NEXT?

According to Forbes, Bernard Arnault has surpassed Elon Musk to take the top spot.
The key reasons for the reduction in Musku2019s wealth are the fall in the stock price of Tesla and the acquisition of Twitter.Elon Musk purchased Twitter for $44 billion. The company has been in the news since this announcement.The company’s ad revenue, which is its primary source of income, decreased. This fall in ad revenue was seen due to the backing out of many companies, such as Audi, Volkswagen, etc., because of the failed rapid decisions by the CEO, Elon Musk.The 8-dollar blue tick feature strategy failed; massive layoffs of top-level officials are considered the reason for this turmoil.
source: VoxTwitter is facing losses of $4 million per day, and even talks of bankruptcy are spreading in the global market.If Twitter fails, all the banks that gave Musk the loan will fail. This will devastate the American economy and cause a recession.This will have a global impact on all other countries.Because Twitter’s acquisition was done in such a way that if it succeeds, every concerned institution will enjoy high profits. But if Twitter went bankrupt, losses of billions of dollars could further lead to the bankruptcy of financial institutions.This acquisition was based on the Leveraged Buyout Strategy, also known as LBO. This means that in order to acquire Twitter, Elon took a $12 billion loan and managed to raise the remaining funds by selling Tesla stock and soliciting help from friends. This loan was taken out by pledging the shares of the acquired company, Twitter, and taking the loan in the name of Twitter. This reduced the risk of Elon’s attack almost entirely.The banks that gave the loan further shifted the burden of risk by issuing bonds to small institutions that took on risk with high rewards.rnrnrnrnrnrnrnrnrnrnrnrnrnThis is how Twitter can be a threat to the US market and impact the world.