Tesla CEO Elon Musk is to meet US media titans at “summer camp for moguls.” The engineer will be speaking at the Sun Valley Conference 2022 and the expected topic will be the Twitter acquisition.
The media and tech titans will once again visit the Idaho resort to mingle at investment bank Allen & Co.'s annual meeting, dubbed “mogul summer camp.” This is a secretive and exclusive gathering of media, technology, and other influencers. Presentations, discussions, as well as negotiations on deals, are held here. The invitation-only event is known for setting the stage for major deals and acquisitions.
Deal talk this year may shift from looking for new targets to focusing on getting the most out of past deals or existing business portfolios. PwC noted in a recent report that “deals activity has recently slowed among some of the major media companies, following a peak driven by content and technology acquisitions to fuel expansion of streaming services.”
One major deal, which is under scrutiny, is Elon Musk's acquisition of Twitter for $44 billion. During the event, he may meet with Twitter CEO Parag Agrawal, who has already arrived there. The presence of both there creates additional intrigue.
Musk will speak on the final day of the Sun Valley Conference, and is expected to talk about the Twitter acquisition. The deal is temporarily on hold as the platform refuses to provide data that confirms that there are less than 5% spam/bot accounts on Twitter. All the data that have been given to the Musk team to date are useless for assessing the real state of affairs.
It should be noted that, on the final day of the event, some legendary investors typically give a speech. The choice of Musk for this role highlights the recognition of his influence on the sector, as he seeks to create a revolution that expands freedom of speech for people.
© 2022, Eva Fox | Tesmanian. All rights reserved.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.