is Elon Musk buying Coca-Cola? What is Coca-Cola’s market share value?
2 min read
Elon Musk joked about his next takeover, Coca-Cola, after his startling $44 billion bid to buy Twitter was surprisingly accepted this week.
On Thursday, the billionaire told his 87.1 million Twitter followers that he would acquire Coca-Cola next. He said he will but the company “to put the cocaine back in.”
However, when we consider how much it would cost to buy Coca-Cola, it’s more likely that Elon Musk was kidding about buying the corporation.
According to Statista’s most recent data, Coca-Cola is the world’s most valuable drink. It’s market value is of $87.6 billion in 2021.
Next I’m buying Coca-Cola to put the cocaine back in
— Elon Musk (@elonmusk) April 28, 2022
What is Coca-Cola’s market share value?
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The company’s stock is trading at $65.56 on Thursday morning, up from the $54.20 Elon Musk bid for Twitter.
Fintwit, a popular financial account, responded to Elon Musk’s Coca-Cola news by sharing a screenshot of the company’s stock valuation today, writing, “Elon, you’re too poor to purchase Coca-Cola.”
And, it’s true that the legendary brand would be pricy. It’s difficult to foresee what Musk would do in the future. Only a week ago, buying Twitter seemed like a crazy notion.
Elon, you are too poor to buy Coca-Cola pic.twitter.com/9Y171Kz2nT
— Fintwit (@fintwit_news) April 28, 2022
After all, according to Bloomberg, Elon Musk is the world’s richest individual, with a net worth of $289 billion. He’s also the CEO of the world’s largest electric car manufacturer.
The second portion of his strange statement should make it apparent that his plan to buy Coca-Cola is merely a joke.
Did Coca-Cola ever have cocaine in it?
Coca-Cola is as an extract produced from coca plants. Cocain was one of the ingredients in the carbonated drink when it was first manufactured in 1886. According to the National Institute on Drug Abuse, the drug was not considered illegal at the time.
However, cocaine was removed from the soft drink in the 1900s, and it’s unlikely that it’ll ever be legalized again.
Regardless of its intention, Musk’s statement was well-received by many on Twitter, who suggested that the billionaire buy and enhance several other companies, or return them to their previous glory.
Ankita Khanrah
Ankita Khanrah is a second-year student of the Master of Communication and Journalism (Integrated) programme at the School of Mass Communication, KIIT Deemed University, Bhubaneswar.
