As Elon Musk basks in the glory of winning his second lawsuit, his company Twitter is looking to make more money by charging corporates for verification of their brands. Reports say that it would cost parent companies a grand for a golden tick. Meanwhile, the CEO of Tesla and several other companies has been saved by a jury from making a payout to investors who filed a lawsuit against him. They said that they were misled by his tweet in 2018 and had lost money.
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The CEO of Tesla once again bet on himself. He has established his reputation as a maverick. Social media platform Twitter has been his sounding board as he used it a lot to market his electric car company, Tesla. Along with lawyer Alex Spiro, he managed to convince a jury, two different times, that his tweets should not be taken too seriously.
The billionaire’s lawyer also put forth a case that “imperfect tweets” could not be penalized. He argued that the stock of Tesla has been highly volatile and it’s difficult to fathom what moves the stock up or down.
His electric vehicle manufacturing company Tesla Inc. his space rocket making company SpaceX as well as his other companies have benefited from Elon Musk’s tweets. His foray into crypto currency with some tweets on Bitcoin and many tweets on Doge coins had also influenced the rise and fall of these two digital coins.
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Elon Musk bought Twitter a few months ago but has struggled to make a profit. He fired a lot of employees and is facing a few lawsuits. His company Twitter adversely hit the headlines when he reduced janitorial services, publicly sold company equipment, lagged behind on rentals, lost many corporate advertising deals and much more.
The Information reported that the social media platform Twitter was planning to charge brands $1000 a month for them to retain their gold verification badge, which has been free to date. Internal messages were viewed by the outlet.
Another reporter Matt Navarra also seemed to confirm this proposed plan by Twitter. His post on Twitter said that the program for businesses would be called Verified for Organizations. It noted that the cost would be $1000 per month and a further $50 per month for each additional affiliate handle.
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