Musk: ‘Obviously we’re overpaying for Twitter right now’

During Tesla’s third-quarter earnings’ call. Musk says that, while he is overpaying for Twitter now, it will be worth it in the long-term

I am excited about the Twitter situation. It’s an asset that has languished for a long time, but it has incredible potential. Although myself and the other investors are obviously overpaying for Twitter right now, the long-term potential for Twitter is an order of magnitude greater than its current value.”

The Twitter stock price on this day is $52.42, compared with Musk’s $54.20 offer.