American pharma company Eli Lilly suffered huge losses due to the blue tick scheme in exchange for Musk’s money.
Elon Musk, the world’s largest businessman, took some tough decisions as soon as he took over Twitter. One of them is to take money to have a blue tick or official account on Twitter. Musk announced that anyone who wants to save their blue tick or get a blue tick will have to pay a fixed fee, of approximately $ 8. Now this one decision of Musk caused a huge loss to the legendary American pharma company Eli Lilly. 1,223 billion rupees of this company were sunk. For this reason, the company has had to withdraw its decision for the time being.
what is the matter?
Let us tell you that according to Musk’s decree, any person could take a blue tick in someone’s name by paying eight dollars monthly to Twitter. Taking advantage of this, someone took a blue tick in the name of this insulin maker and then tweeted from this fake account that ‘Now insulin will be available for free’. What was just then, after this the company’s shares started falling continuously. A fake account in the name of American pharma company Eli Lilly also got a blue tick by paying money and tweeted a free one. After this tweet, the company’s stock fell by 5 percent and the company’s market cap was reduced by about $ 15 billion. As soon as the information about this fake tweet was received, Eli Lilly issued a denial from his official Twitter account.
The number of fake accounts on Twitter increased
Significantly, after the subscription scheme of Musk, there has been a flood of fake accounts. Fake accounts of many big celebrities have been created. Which Twitter used to give Blue Badges only to government entities, celebrities and journalists verified by the platform. It was started to prevent fake or fake accounts on the platform. Now after Elon Musk took over the command of Twitter, he is giving blue badges to anyone in lieu of money. Just for this the user has to pay eight dollars per month.