Mark Cuban has his sights set on buying X from Elon Musk, sparking excitement among his fans. The “Shark Tank” star expressed in an interview with Wired that he’d love to purchase both the social media platform and Fox News, saying he’d do so “in a second” if he had the resources and if they were for sale. But there’s one major obstacle — Musk “won’t sell,” according to Cuban.
That hasn’t stopped many users on the platform from pleading with him to “rescue us” and “get rid of him” in light of the recent changes to X. Cuban, while sympathetic, admitted, “I wish I could, but there’s no reason for Musk to sell.” Since Musk acquired Twitter in 2022 for a hefty $40 billion and rebranded it as X, the platform has been in the spotlight for controversies, including significant layoffs and criticism over misinformation. Musk himself frequently uses X to promote his conservative beliefs, turning it into a platform for his personal views.
Meanwhile, reports suggest that the financial health of X has taken a hit. Bradford Ferguson, president of Halter Ferguson Financial, mentioned that the platform’s revenue has plummeted by about 85% since Musk took control. Despite these concerns, some users urged Cuban not to get involved, fearing it could impact free speech. X holds significant influence within the cryptocurrency community, where Musk and many key figures have shown their support for Donald Trump’s upcoming election campaign.
Cuban, a long-time crypto enthusiast, has taken a different political stance. Alongside several other investors, he actively supports Kamala Harris. In fact, he was one of many corporate leaders to sign an open letter endorsing her candidacy in September. Cuban’s opposition to Trump has created tension within the crypto world, with industry personalities like Ryan Selkis, co-founder of Messari, openly challenging him.