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Kevin O’Leary Says Twitter Isn’t Even Worth $10 Billion

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Elon Musk’s offer to buy Twitter for $44 billion far exceeds the company’s real value, Kevin O’Leary has said. “I don’t think it’s worth $10 billion,” O’Leary told CNBC, stressing the need for new management at the company. He urged Musk to “pull out the punching stick” and start fresh with Twitter in order to get his money back. Something is loading.

‘Shark Tank’ investor Kevin O’Leary said he doesn’t believe Twitter is even worth $10 billion and urged Elon Musk to start from scratch if he wants to make money off his $44 billion purchase of the social media company.

His advice came shortly after Musk told Twitter he was ready to honor his initial offer to buy the social media platform at $54.20 per share.

It comes after months of Tesla’s CEO trying to back out of the deal accusing the site of being riddled with bots and fake accounts. There are only a few weeks left before his courtroom showdown against the company.

But O’Leary expressed doubts about the $44 billion valuation, calling Twitter “one of the ‘most mismanaged social media companies’ in the industry.”

“It’s full of bots. It’s a poorly run business…If he wants to take it over, maybe he can get his $44 billion back. I don’t think it’s worth $10 billion “, he told CNBC. “[Twitter] needs new management. I think he should pull out the stick if he wants to own it and just clean the house and start over. It’s just a horrible business.”

He estimated that if not for the hype of Musk’s takeover, Twitter shares would actually be worth between $12 and $15 a share.

O’Leary added that he sold shares of Twitter in August because he believed Musk would negotiate a new price of $35 per share before closing the deal.

“Musk would be able to thread the needle in litigation and close the deal for a lot less. And I don’t know why he didn’t. He didn’t have to pay that ridiculous price. “, O’Leary said. .

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