Elon Musk Says Twitter Purchase Was A Poor Financial Decision, "Timing Was Terrible"

Billionaire Elon Musk's Twitter acquisition has not seen smooth sailing. Now, in an interview with Fox News host Tucker Carlson that aired Monday night, Musk called his Twitter purchase a poor financial decision for now but maintained that "some things are priceless".

When asked if Twitter was worth the buy, Musk said, "It remains to be seen as to whether this was financially smart." Musk acknowledged his recent $20 billion valuation of the site, he said, "Currently, it is not. We just revalued the company at less than half of the acquisition price."

He added, "My timing was terrible for when the offer was made because it was right before advertising plummeted."

Talking about his purchase, he said, "Yeah, so I must be a real genius here. My timing is amazing since I bought it for at least twice as much as it should have been bought for. But some things are priceless." Musk added, "So whether I'm losing money or not, that is a secondary issue compared to ensuring the strength of democracy. And free speech is the bedrock of a functioning democracy."

In a recent interview with BBC, the Tesla CEO said that he would sell the company if he finds the right person.

The speculation around Mr Musk's intention to sell the microblogging platform started gaining prominence after documents filed by the company in a California court against a lawsuit showed Twitter Inc. has ceased to be an independent company after merging with a newly-formed firm called X Corp.

The document said that Twitter "no longer exists".

Most recently, Mr Musk covered the "W" in the microblogging platform's name outside the company's headquarters in San Francisco, sending many in shock. Before that, the billionaire briefly replaced the iconic blue bird logo with doge meme on the Web version of Twitter.