Elon Musk lost $10 billion. | Now money will also be spent on Twitter: Twitter's New feature

 

Elon Musk lost $10 billion:

 

Elon Musk, born in Pretoria, South Africa, is the richest man in the world. Elon Musk remains in discussions because of both his astonishing innovations and statements. Currently, he is in the news for buying Twitter for $ 44 billion and firing the top executive of this social media platform. On the purchase of Twitter, he made a statement that he did not intend to make money with this purchase but to help humanity.

 

That's all great, but Twitter purchases could be heavy on their pockets. His property has been badly damaged by this deal. Elon Musk's wealth suffered a setback of $10 billion as soon as the Twitter deal is completed. This is reflected in the calculations of Bloomberg's Billionaire Index. That is, Elon Musk lost $ 10 billion due to the Twitter deal. 

With this loss, the total decline in Musk's wealth increased to 66 billion dollars in 2022. At present, Musk's net worth is $204 billion. The biggest contributor to Musk becoming the world's richest person is his electric car company, Tesla. Tesla shares have fallen 46% this year to $228.52. Investors feared that Tesla's purchase of Twitter would be funded by Tesla, and because of this, Tesla's sales fell flat. 

Strengthened by the Twitter deal, not only the sharp decline in assets but also their debts increased. According to Bloomberg's index, the deal has increased Musk's liabilities by $4.6 billion. Musk, 51, commented on buying Twitter in April for $54.20 a share. Musk has spent at least $25 billion to complete it. In this deal, outside investors had also committed an investment of $ 7.1 billion. 

Six months after Twitter's purchase was announced, the deal was proving too expensive for Elon musk. The fear of recession in the world, especially in the US, the turbulent economic environment, and rising interest rates caused the shares of the social media company to fall to the ground. The Selective Social Media Index, which tracks social media companies listed in the market, came down by nearly 40%.

In the Bloomberg Wealth Index, the value of Twitter fell, the same decline has been recorded and due to this wealth of Musk has also decreased. Guess this the shares of Meta Platforms, companies that run Facebook, Instagram, and WhatsApp, fell 53% in the last six months and came to $ 99.20. This sharp drop in shares brought the wealth of Meta CEO Mark Zuckerberg below $100 billion. 

The condition of American camera and social media company Snap-In is also bad. Its shares fell 65-85% in the last six months and its shares came down to $10.08. The assets of the partners of this company have also been hit hard due to the fall of the shares. Twitter shares have been trading on the New York Stock Exchange (NYSE) since October 28. 

Although its shares were for $ 53.70, which is less than Musk's purchase of $ 54.20. In July, twitter's shares had fallen to close to $ 32. There are also reports that Jack Dorsey is beta testing other social media platforms. That is, the challenge in front of Musk is big. Only time will tell how successful it will be, once to maintain Twitter's credibility and second to make up for its losses.

Now money will also be spent on Twitter: Twitter's New feature

 

So finally the biggest change ever happened on Twitter. This change has been made after the world's richest man Elon Musk bought Twitter. What is that change now and how will it affect your life? We are going to tell you all this in this special report. Twitter has added an edit button to its feature. Verified users from India can now use this facility as well.

 

This has been confirmed by Paytm founder Vijay Shekhar Sharma through a post. Vijay Shekhar edited the tweet using the edit button on Twitter and shared its screenshot. In this, he wrote in the caption that this is an edited tweet. In the screenshot, you can see that the option of Edit Tweet ie Edit Tweet is also visible in the list. Currently, the edit option is enabled only for iPhone users.

 

On the edited tweet, users will also see a disclaimer, in which the time of editing the tweet will be told for the last time. By clicking on it, you can also check the edit history of the tweet. Now know how the edit tweet button works, through the other tweet feature, users will be able to edit the tweet for 30 minutes only. 

After 30 minutes, you will not be allowed to edit the tweet and in this tweet, you will see identifiers like labels, times, and editor icons to tell you that the tweet has been edited. Users can also click on the tweet to see what changes have been made to the original content. Let us tell you that two months ago, Twitter announced the introduction of the Edit Tweet button feature. At that time this feature was in test and trial mode. 

Now, this feature will be released only for selected users. First of all, this feature will be started for verified users i.e. paid subscribers. After this, it is expected that soon all the users will also get the option of the tweet. Through this feature, you may have to pay around ₹ 400, because, in the US, users will have to pay around $ 4.99 per month through the edit feature. 

Let us tell you that for a long time many users were demanding to add the edit tweet feature on Twitter. By far the most sought-after feature of the beta Twitter currently has more than 320 million active users.

Is Twitter's user interest starting to dwindle?

Twitter has been constantly discussing changes since it acquired Elon Musk. From the formation of a committee to revive the banned account to the payment of blue ticks to verified users of Twitter. The latest news is to introduce Blue Tick. For this, there is talk of charging a monthly fee ranging from 5 dollars to 20 dollars.

Twitter can decide on this project by November 7. Musk has tweeted that changes are being made to the entire verification process, but it will not be so easy to decide whether to take money after subscribers leave. Meanwhile, a plan by Twitter founder Jack Dorsey could ruin Musk's announcement of introducing Blue Tick.

Jack Dorsey is now developing a new platform to compete with Twitter, which could be named Blue Sky. This social network app being built to compete with Twitter is currently being tested. In such a situation, with the entry of Musk, new challenges are going to be presented for Twitter. A recent report has claimed that users who tweet continuously on Twitter are no longer as active as before.

According to an internal document obtained by Reuters, now the interest of users using Twitter has started decreasing. It was said in the report that heavy Twitter i.e. those who log in to the site every day and tweet 3 to 4 times a week. This heavy Twitter social media site may have a small share of users, but it is very special for Twitter as such users generate 90% of the company's total revenue.

A decline in this heavy Twitter activity has been claimed during covid-19. These users have lost interest in popular topics like news, sports, and entertainment. Apart from these, Facebook is also losing Twitter to the huge amount of tweets interested in celebrities. According to Twitter research, the reason for the decline in users interested in topics like fashion and celebrities is Instagram and Tiktok.

Now the activity of users is being estimated to move towards video-friendly websites like Twitch, YouTube, and Tiktok. Surprisingly, Twitter was the most popular platform to follow breaking news earlier. At the same time, in the matter of news, people have started shifting to TikTok as well. According to a large study, most Americans now get news from Tiktok. 

The share of American people getting news from Tiktok has increased only 2 to 3 times. According to the study, 26% of Americans say that they regularly get news on Tiktok. This figure is much higher than in previous years. A third of Americans who use TikTok say they get news on the site regularly, while consumption of news on other social media sites has declined or remained the same. 

But now it will be interesting to see whether Twitter adopts any new strategy to stop this decline in the activities of heavy tweets. We hope you like the article. If you have any question, please comment on our site www.tradeipohub.co.in. Thanks for reading.