Elon Musk’s new perfume.
Elon Musk’s new perfume.
World News

Elon Musk’s new perfume.

By Stefano Capaccioli - 13 Oct 2022

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Elon Musk, the eccentric founder of Tesla, has launched a new perfume, which has sold 10,000 pieces in just a few days, earning $1 million.

Elon Musk launches Burnt Hair, his new perfume

Elon Musk never stops, and while he is still grappling with the Twitter dispute and presenting himself as a possible mediator to find an agreement for the conflict in Ukraine, he decides to sell a new perfume, which can also be purchased with the cryptocurrency DOGE, and in just a few hours sales boom.

After promoting this new fragrance called Burnt Hair on his favorite social network Twitter, which may soon become his own, he joked with his more than 100 million followers saying: 

“With a name like mine, getting into the fragrance business was inevitable – why did I even fight it for so long!?”

Musk tweeted calling himself a perfume salesman. always jokingly adding to buy his own perfume so he can buy Twitter.

The perfume costs $100 a bottle and is expected to be delivered in the first quarter of 2023. If all goes as it should and according to reports released by Musk himself, within a few hours 10,000 pieces would have been sold, while currently sales are expected to stand at more than 20,000 packages, for a product that Musk first advertised a few days ago.

Musk announced the perfume last Tuesday, and his The Boring Company’s website described it as:

“the essence of repulsive desire.”

In perfect Elon Musk style, he is in the habit of surprising and never being trivial.

Products branded Elon Musk

In the past Musk, as a challenge rather than a real business endeavor, since he is already very rich with his main activities, which remain electric cars and the space company SpaceX, had already sold a Tesla-branded tequila and a pair of shorts, production later abandoned after the production of a few thousand.

It is likely that this too will eventually turn out to be either a challenge or one of yet another provocation, or an attempt to test the possibility of selling products with another one of his pet peeves and that is the meme coin Dogecoin, which thanks to his tweets last year had jumped into the top ten of the most capitalized cryptocurrency ranking. The perfume, as also stated on Twitter by Musk himself, will also be purchasable with this form of payment.

However, the Dogecoin crypto does not seem to have benefited much from this news, since it lost 5%, touching one of its lows at $0.05 cents, after it had touched $0.29 cents at the end of October 2021. In fact, the stock is paying for the highly negative market phase of cryptocurrencies, but also for its actual insubstantiality, considering that much of its great success is due precisely to the great publicity given to it by the tweets of Elon Musk, who in January also stated that Tesla would also accept Dogecoin, along with Bitcoin, as payment.

The Musk-Twitter diatribe

But aside from the perfume sale, these days Musk is grappling with far more sensitive issues, such as his own $44 billion purchase of Twitter to avoid a risky lawsuit, filed by the social network’s top management over the withdrawal of his offer three months ago, and also in the last few hours over his offer to mediate the war between Russia and Ukraine, which has been much discussed.

As far as Twitter is concerned, there have been rumors in recent times that Musk would be willing to ask for a 30% discount on the offered price in order to close the deal in short order.

According to the New York Times, which cites very reliable sources, Musk’s lawyers in recent days have met with the social network’s top management to ask for a discount on the initial offer of $44 billion, which was considered excessive even in light of the grievances brought forward by Musk himself, which had led him to withdraw from the offer.

Musk’s offer would have been to buy the company for $31 billion cash, instead of the $44 billion offered. According to sources told the NYT, Twitter’s top management reportedly rejected the proposal.

But still according to sources cited by the New York newspaper, negotiations between the parties would continue under the table to try to reach a compromise. On Wednesday, someone leaked the figure of $39.6 billion, which could actually bring both sides to an agreement. And it is no coincidence that on Wall Street the stock was capitalized at $39.3 billion.

This would be a discount of about 10%, which would still be a good compromise that could avoid a long and exhausting lawsuit whose outcome remains uncertain anyway. Many analysts consider the price offered by Musk to be excessive and operated in a moment of great euphoria, without fully assessing the company’s accounts, but aiming only at the great desire to buy the social network, to radically transform it.

The talks were held just days before the first hearing of the trial that is expected to be held in a Delaware court to settle the issue between the two litigants, Twitter as plaintiff and Elon Musk as the defendant.

The problem would also be that of funding from banks to be able to comply with such a monstrous offer even for the richest man in the world like Musk. There are many unknowns now related to the affair, considering that the basis would be that the fiduciary relationship between the parties would be broken. And while Musk has asked for the complaint to be withdrawn in order to avoid prosecution, Twitter would still seem intent on having a court ruling that would still force Musk to somehow fulfill his commitments, as has already happened.

According to some sources, Twitter simply wants to have court oversight in the closure process to ensure that Musk keeps his commitment and the request made precisely by the court, that he pay an interest fee to compensate for delays in the closure process.

Stefano Capaccioli

Accountant based in Arezzo, Italy. Statutory Auditor, Publicist, Fellow @ University of Milan, founder of Coinlex.it, author of monographs, essays and articles on bitcoin, cryptocurrencies, crypto assets and precious metals, trainer and conference speaker.

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