Battle of the Billionaires: Zuckerberg and Musk Really Have Challenged One Another to a Cage Fight
Key takeaways
- Elon Musk and Mark Zuckerberg’s clash over Meta’s rumored rival Twitter platform has somehow led to a planned cage fight between the two
- Wall Street’s unfazed by the hilarity — Meta stock is up 0.86% as of Friday, while Tesla lost 3.3% earlier this week
- Bookies put the odds in Elon’s favor
Sometimes the truth is stranger than fiction. Now is one of those times. Billionaire and Tesla CEO Elon Musk has officially challenged fellow billionaire and CEO of Meta, Mark Zuckerberg, to a cage fight at one of his followers’ (joke) suggestion. Things got real when Zuck accepted on his Instagram story and now, it’s time to pick your fighter.
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What’s happening with Zuck and Elon?
Zuckerberg and Musk actually have a bit of beef right now. Meta is apparently planning on launching a competitor to Twitter called Threads, or as a Meta statement said, “We’re exploring a standalone decentralized social network for sharing text updates”.
Elon quickly took to his own Twitter and mocked the idea, which somehow escalated into challenging Zuckerberg to a cage fight. Yeah, we don’t know either. Zuck could have left the challenge well alone, but instead, he upped the ante tenfold by screenshotting Elon’s tweet and stating: “send me location”.
Social media and news outlets were whipped into a frenzy. Now we’re apparently hearing the fight will happen at the Vegas Octagon (per Elon’s tweet), Joe Rogan could be refereeing the match and professional UFC fighters have offered to train Musk before the fight. We wish we were joking.
What was the market reaction?
So, how on earth did Wall Street react to the insanity? In truth, the fight doesn’t really matter to the markets unless either party is seriously injured, which is unlikely.
Meta stock has zigzagged all over the place this week thanks to the fight news, investors interested in Meta’s Threads offering and having to pull news from Instagram and Facebook in Canada thanks to new laws there. Meta’s gained 0.84% on its share price this week.
Tesla’s share price dropped 3.3% earlier this week as a Morgan Stanley analyst downgraded the stock, with another 1.6% drop during Friday trading. Tesla could close at its first weekly loss in six weeks.
And for the record, bookies put the win in Elon’s corner — even though Zuckerberg is now a trained jiu-jitsu fighter.
The bottom line
Don’t billionaire tech CEOs have better things to do other than literally fight one another? Apparently not, but if the proceeds go to charity as planned, then something good will come of it all. Either way, the stock market has brushed it all off.
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