Previously, on April 25, Twitter agreed to resell Elon Musk at 54.20 USD/share, with a total trading value of about 44 billion USD. Tesla's CEO then took to the social media platform to talk about his next potential acquisition goal - Coca-Cola.
" next, I will buy Coca-Cola and put the Cocaine in like before" - Elon Musk shared. After just a few hours of posting, his Tweet received 1.1 million likes.
Musk mentioned Coca-Cola's past, when the formula for this famous soft drink once contained "cocaine as an extract from coca leaves". According to the National Institute on Drug Abuse, cocaine was legalized in 1885 when John Pemberton, a pharmacian from Atlanta, first brewed this drink.
According to the DEA, at that time, US law had not yet banned cocaine, and this substance was even considered a common ingredient in drugs. John Pemberton also described the drink as a patented drug and brain- and-brain-healthy drink. In fact, Coca-Cola has eliminated cocaine from its soft drink formula since 1903.
Compared to Twitter - the company that Musk has just successfully acquired, Coca-Cola is the leading US food and beverage company (headquartered in Atlanta) with a valuation of $284 billion. In particular, this is a beverage brand with a "huge" consumption of about 1.9 billion products sold per day in more than 200 countries.
In addition, Coca-Cola's largest shareholder, Warren Buffett, of Berkshire Hathaway Group, owns 9% of shares. Meanwhile, according to Bloomberg statistics, Musk's current net worth is $269.5 billion.
Previously, to buy back Twitter, Musk borrowed $12.5 billion from the bank, mortgaged part of his $149 billion stake in Tesla. The $12 billion is a bank loan borrowed by Twitter itself. After the deal was announced, Tesla's stock price plummeted by 12.2% in the session on April 26, causing the company's capitalization to decline by 126 billion USD.
