Elon Musk’s addiction to constant attention shows no signs of slowing down.
The Tesla (TSLA) – Get Tesla Inc Report CEO and the richest man in the world sent out another headline-grabbing tweet late Wednesday.
Earlier this week, Musk won an agreement from Twitter (TWTR) – Get Twitter, Inc. to buy the social media company for $44 billion. The deal was blessed by Twitter co-founder Jack Dorsey.
Since then, Musk has offered a number of controversial tweets and seems unable to give up the thrill of being constantly the center of attention from much of the business and government world.
In particular, he speaks on Twitter about so-called free speech issues and raises concerns that he could reinstate former President Donald Trump on the platform. Trump was permanently banned from Twitter over fears he would incite more violence after the January 6, 2021 uprising.
Five people died in a violent attempt by Trump supporters to take over the capital and halt the counting of the electoral college, and Trump was subsequently impeached for a second time.
Though Musk describes himself as a “free speech absolutist,” the Supreme Court has ruled that the constitution’s protections of free speech do not extend to “yelling ‘fire’ in a crowded theater.”
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Old coke?
Musk wasn’t satisfied, however, and came up with another wild idea on Wednesday.
What else is to be thought of Musk’s latest tweet, in which he says, “Next, I’m going to buy Coca-Cola to put the cocaine back in.”
The venerable Coca-Cola was once made with cocaine, but the drug was removed from the recipe in the early 20th century before the drink became a global phenomenon.
Acquiring Coca-Cola would be a much bigger task for Musk than for Twitter given that the market cap is currently about $288 billion, which is Musk’s total net worth on any given day.
There’s another fold that could also get in the way, as Coca-Cola’s largest single shareholder is Warren Buffett, who owns his Berkshire-Hathaway (BRK.A) – Get Berkshire Hathaway Inc. Class A Report (BRK.B) – Get Berkshire Hathaway Inc. Class B Report Investment Vehicle.
Buffett made his first purchases of Coca-Cola after the 1987 stock market crash and has benefited well over the years.
Unlike Musk, Buffett generally doesn’t take a hand in companies he buys or in which he holds large stakes.