Elon Musk has recently purchased an undisclosed stake in Lovin Dubai, a subsidiary of Augustus Media, for $100 million. This marks the tech magnate's first regional media venture, notably a news, culture, and lifestyle brand that covers stories from the Middle Eastern region. In a recent Dubai Summit, Musk described Lovin Dubai as “the funniest, most influential media brand the world has ever heard of”. In terms of performance, the popular lifestyle brand has seen a whopping one billion views across its websites and social media profiles. Meanwhile, though officially reported, local media house Khaleej Times has cited the new venture as part of regional April Fool’s Prank celebrations and not an actual deal.

Musk's recent interest in Lovin Dubai follows his 'tweet to eat' challenge. Earlier this year, the tech magnate confirmed that he would "eat a happy meal on live TV" upon that McDonald's will accept the meme token, Dogecoin (DOGE) as payment. In response to McDonald's tweet, Musk reconfirmed that the offer still stands and made a point of being a staunch advocate of the meme cryptocurrency. The ambitious entrepreneur is surely set to shake up the media industry with his new 'investment'.



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