Another Spending Spree? Elon Musk Sets His Sights on Coca-Cola, McDonald's

Another Spending Spree? Elon Musk Sets His Sights on Coca-Cola, McDonald’s

After successfully acquiring Twitter in a $44 billion deal, Elon Musk has taken to the platform to openly contemplate which companies he should buy in his next spending spree. Musk is the richest person in the world with an estimated fortune of $219 billion.

Musk specifically set his sights on two major companies – McDonald’s and Coca-Cola.

On Wednesday night, Musk tweeted, “Next I’m buying Coca-Cola to put the cocaine back in.”

When Coca-Cola was created in 1886, cocaine was one of the ingredients in the carbonated drink, as an extract obtained from coca leaves. At the time, the drug was not considered illegal, according to the National Institute on Drug Abuse. The amount of cocaine in Coca-Cola was reduced over time, and finally eliminated from the drink by 1929.

Shortly after, Musk shared a satire tweet that read, “Now I’m going to buy McDonald’s and fix all of the ice cream machines…” and replied by saying, “Listen, I can’t do miracles ok.”

McDonald’s is currently trading at $247.14 per share and has a brand value of approximately $155 billion.

Meanwhile, Coca-Cola is at $65.56 per share and has a brand value of approximately $87.6 billion.

In order to buy just one of the companies, Musk would need a lot more cash than he offered to acquire Twitter. While another spending spree is completely possible due to his record wealth, it is highly unlikely we’ll see the billionaire take over another major company in the immediate future… or so we think!

Kaitlin Housler