Shark Tank star and entrepreneur Mark Cuban says he would be interested in purchasing social media platform X(formerly known as Twitter) and news network Fox News.
The Billionaire shared his interest in the acquisitions while speaking in a recent interview with Wired’s Lauren Goode.
“If I had enough money to do it, which I don’t, I’d buy it in a heartbeat,” Cuban said of Fox. The former Dallas Mavericks owner asserted the purchase would serve as an antidote to a demographic he calls the “Fox News generation.”
Cuban, whose net worth is estimated at $5.7 Billion, noted that it would take approximately $15-20 Billion dollars to turn the company around in a detailed breakdown of the required investment.
“You’ve got to pay at least 50 per cent premium. So now it’s $22 billion. And then you’ve got to make all the changes, so that’s another $2 billion,” he said. “You can sell some things off. So maybe it’s $15 billion, $20 billion net. I don’t have $15 or $20 billion in cash sitting around.”
It was similar sentiment in his interest to score X from Elon Musk, who he said wouldn’t be keen on selling either way.
“I wish I could,” Cuban said. “There’s no reason for him to sell it.“
Cuban and Musk have had multiple back-and-forths on the platform, with the Shark Tank judge chiding the Tesla boss on changes he made to the app following the $44 Billion takeover in October 2022.
“He who controls the algorithm controls the platform — controls that world, that community,” Cuban told Goode. “And Elon has built, X has built, a very strong right-leaning community.
