Elon Musk, the billionaire entrepreneur and Tesla CEO who recently purchased Twitter for $44 billion, is trying to expand his empire, which currently includes Tesla, SpaceX, The Boring Company, and now Twitter. Musk recently stated in a tweet that he wants to buy Coca-Cola to “put the cocaine back in.”
If you’re wondering if this is really his strategy, you should take it with a grain of salt. For the time being.
The market capitalization (m-cap) of the Georgia-based soft drink company is presently $284.20 billion. The company’s sales increased in the most recent quarter as demand remained strong, balancing growing input prices.
Coca-organic Cola’s revenue increased 18% in the first quarter of this year, excluding currency fluctuations and acquisitions or divestitures, thanks to a 7% advantage from price increases and products sold. According to a Wall Street Journal report, Coca-operating Cola’s revenue increased by 25% year over year to $3.41 billion, despite a 17% increase in cost of goods.
Them also stated that the company’s suspension of business in Russia due to the Ukraine crisis will cost it 4 cents per share in full-year adjusted earnings.
Meanwhile, Musk provided a screenshot of an old tweet in which he stated that he plans to buy McDonald’s and repair all of their ice cream machines. He captioned the screenshot with, “Listen, I can’t do miracles, okay.”
The South African-born entrepreneur has been in the news for the past week as a result of his $44 billion ($54.20 per share) purchase of Twitter.
The corporation employs approximately 99,000 people and has a market capitalization of $1.031 trillion.
With Musk’s acquisition of the platform, a few adjustments are expected. These include an edit button, longer tweets, the removal of spambots, the removal of permanent bans on users, and the open-source of algorithm so that users can see what is going on with their account.