did elon buy twitter

How Elon Musk bought Twitterafter months of legal drama Elon Musk,has completed his 44 billion deal


Updated on Jan 14,2023

How Elon Musk bought Twitter

after months of legal drama Elon Musk,has completed his 44 billion deal to buy,Twitter,and like a lot of what musk does his,path to owning his favorite social,network wasn't exactly straightforward,it's no secret musk is one of Twitter's,most prolific users he has more than 100,million followers and tweets almost,constantly he tweets about his companies,SpaceX and Tesla but also memes and 420,jokes but it wasn't until recently we,learned musk wanted to exert an even,bigger influence on the platform,this spring he spent nearly three,billion dollars quietly amassing a 9.2,percent stake in the company almost,overnight he was Twitter's largest,shareholder inside Twitter the,investment immediately prompted concerns,he was gearing up for a hostile takeover,the company decided to offer him a seat,on its board and for a few days it,seemed like he would join but the day,his appointment was supposed to become,official Twitter said musk had declined,to join after all three days later musk,changed his mind again he didn't just,want a piece of Twitter he wanted the,whole company and offered to buy it for,54.20 a share in public musk was already,talking about his plans for the company,he wanted to loosen its moderation rules,and open source its recommendation,algorithms he pledged to do away with,permanent bans except for Bots and,scammers which he wanted to purge once,and for all behind the scenes there was,more going on we now know from musk's,text messages that Twitter founder Jack,Dorsey had been quietly pushing to get,musk involved for years Dorsey who has,said Twitter shouldn't be a company at,all thought musk could fix what he,couldn't the two exchange ideas for,weeks before musk made his offer,meanwhile musk got more and more,frustrated with Twitter's board and its,CEO Baraga girl when agaral told musk,his tweets questioning if Twitter was,dying weren't helpful musk were angry,and said talking to him was a waste of,time unsurprisingly Twitter's leadership,wasn't excited about musk's offer at,first in fact the company's boards,seemed like they might try to fight the,Takeover but then musk secured billions,of dollars in financing from Banks and,investor friends and 44 billion dollars,was just too good to turn down 11 days,later Twitter's board accepted the offer,Twitter would be a private company and,musk would be in control the company,told employees then musk started,tweeting about Bots Bots and fake,accounts have long been made noise from,us Bots constantly jam up his replies,cryptoscamers impersonate him one even,hacked his account cleaning out,Twitter's Bots was one of his main goals,for buying the company he said but as,their lawyers work to close the deal,musk began demanding Twitter provide,more details about just how many Bots,were on the platform Twitter has said,for years that Bots make up less than,five percent of all users musk who sees,far more Bots than most wasn't convinced,he said the deal was now temporarily on,hold he demanded more detailed data from,Twitter about Bots Twitter complied and,agaroll even tried to publicly explain,how it deals with Spam and fake accounts,but musk was unmoved he responded to,aggro's tweets with a poop emoji it had,now been nearly three months since,Twitter accepted musk's offer and musk,was now publicly accusing the company of,lying he wanted out but Twitter now,needed musk the company's stock was,taking and it was worth far less than,the 44 billion dollars musk had agreed,to pay Twitter sued the lawsuit pitted,Twitter against musk and Delaware's,Chancery Court a five-day trial was,scheduled for October Twitter whose,shareholders had approved the buyout,wanted to force musk to honor his,agreement musk who had agreed to the,deal without due diligence said Twitter,had misled him then days before the,trial was scheduled to start and not,long after embarrassing text messages,were published in court documents musk,agreed he would buy the company after,all Twitter cautiously agreed ultimately,Twitter and musk finalized the deal one,day ahead of a court order deadline,Twitter was once again a private company,and musk was now calling the shots but,just because the deal has closed doesn't,mean the drama is over one of his first,moves was to fire several of Twitter's,top Executives including agaroll and the,company's top policy maker he's,reportedly planning much deeper Cuts as,well and could lay off as much as 50,percent of all staff musk also has big,plans to change the platform itself he,wants to form a moderation Council to,weigh in on content policies and he's,likely to reverse many previous,suspensions including Donald Trump's at,the same time he's told advertisers that,he doesn't want Twitter to turn into a,free-for-all hellscape and that he wants,to improve its ads he also wants to,revamp Twitter's subscription features,and has floated charging for,verification and charging to embed,tweets one of his advisors has suggested,allowing companies to pay to DM users,he's eve

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Elon Musk vs. Twitter: Inside the 6-Month Battle | WSJ

Elon Musk vs. Twitter: Inside the 6-Month Battle | WSJ

- Twitter has been on a rollercoaster,throughout 2022 ending on October 27th,in one of the biggest tech takeovers in history.,Going back earlier this year here in April,,Elon Musk made a massive 44 billion bid,for the company but just three months later,,he called it off.,Twitter sued.,Musk sued back.,- Oh yeah, Twitter.,(audience laughing),- Then he changed his mind again.,- This has been a drawn out fight,between Twitter and Musk with a lot of twists,and turns.,- Those twists and turns take place,on a timeline that has not only influenced stock prices,but has also sown uncertainty among employees,and as Twitter says,,contributed to a 1% decline in revenue.,So how did Musk's flip flopping,on the deal lead to a six month battle,that threw off Twitter's business.,His tweets, statements and text messages,,as well as court documents tell the story.,The timeline starts here,on January 31st when Musk started buying,up shares of Twitter,and he started sharing his opinions,about how the platform works.,- He did toss out a lot of ideas,on how to change Twitter,,how he thought he could make Twitter better.,Things like emphasizing free speech,,things like changing,how it approaches content moderation.,- After months of buying,,Musk publicly disclosed a 9.2% stake,in the company.,His first tweet of the day said simply...,The next day Twitter announced,that Musk would be joining the board.,- Musk is one of the most prominent users,of Twitter but he's also been one,of its loudest critics.,Twitter invited him to join the board,to try to bring him into the fold and work,with him on these issues.,- Musk tweeted,that he was looking forward,to making significant improvements,to Twitter in the coming months.,- At first, when he was talking,with Twitter's leadership, it was pretty friendly,but then a friction tension started to emerge.,- As Musk was gearing up to join,,he was still criticizing the platform.,Tweeting "Is Twitter dying?",CEO Parag Agrawal texted Musk,,"It's my responsibility to tell you,that it's not helping me make Twitter better,in the current context.",To which Musk responded,,"I'm not joining the board.,This is a waste of time.,will make an offer to take Twitter private.",- Musk would be the new owner,and I think the thinking is that,if Twitter's private he would be able,to take more risk in trying to overhaul,or jumpstart their business.,- It didn't take long for Musk,to act on that promise.,Formerly announcing his 43 billion bid to take,over the company, the number was later revised,to 44 billion.,In an interview with TED that day,,he explained his decision.,- My strong intuitive sense is,that having a public platform,that is maximally trusted,and broadly inclusive is extremely important,to the future of civilization.,- On April 25th, Musk,and Twitter officially reached a merger agreement.,But even as Musk was lining up fresh financing,and cheering more ideas for the platform,,he had a surprise in store.,- The billionaire CEO announcing just hours ago,that the $44 billion deal to take Twitter private,is now on hold.,- Musk tweeted that the deal was temporarily,on hold as he was waiting for more information,from Twitter on the number of spam accounts,on the site.,- We know that Musk had talked about bots,before the deal but then he started having,more concerns or saying he had more concerns,and he started questioning kind of the health,of Twitter's business.,- Musk expressed interest,in a lower price for the company,at the "All-In" Summit on May 16th.,- You can't pay the same price for something,that is much worse than they claimed.,- Twitter's CEO addressed Musk's bot claims,,tweeting in a thread that the company estimated,that less than 5% of reported monetizable daily active users,are spam accounts and they don't believe,this specific estimation can be performed externally.,Musk replied with several tweets,but one was just...,Musk continued to push himself further,from the deal, threatening to walk away,in a letter to Twitter saying he believed the company is,actively resisting and thwarting his information rights.,Musk's reversal was followed by a flurry,of coverage and commentary.,- Yep, I feel like Elon is pretty close,to saying, "I'm so sorry.,My two year old took my iPad and clicked buy,so I didn't know what... (audience laughing),So we're cool?,We're cool, right?",- He officially tried,to call the whole thing off,at the beginning of July.,- I mean, at the start,,Musk was really pushing for this deal,and Twitter was kind of resisting and then,it kind of seemed like their positions changed,and Musk was the one trying to back out,while Twitter was saying,that they wanted to close.,- Four days later,,Twitter formally sued Musk,in an effort to force the merger through.,- So Twitter said they did share information,about how they handled spam and fake accounts,with Musk but Musk kept demanding more,and that was a big part of the legal fight,that was going on.,- The filing took aim,at Musk's flip flopping

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Why Elon Musk ACTUALLY bought Twitter.

Why Elon Musk ACTUALLY bought Twitter.

what on Earth is happening with Twitter,why is it happening and how are some,people really excited but others,absolutely terrified about it so just to,make sure you're all caught up on April,4th 2022 Elon Musk the British fan of,the world single-handedly accumulated,9.2 percent of Twitter's shares making,him the number one biggest solo,shareholder of the company the more,shares you have the more ownership you,have a few days later he then offered to,buy the entire rest of Twitter for 54.2,dollars per share which meant that he,was offering a total of around 44,billion for the whole company his price,was reasonable but not everyone loved,the way that he did it instead of just,putting in a friendly offer he said look,if you don't let me buy it then I have,no confidence in the way that this,company is currently being run and I'm,going to dump all of her 9.2 percent of,shares that I currently own which a lot,of people have called a hostile takeover,because even without the Twitter board,of directors agreeing with his buyout,he's not really given them a choice if,Elon Musk suddenly sold all of his,Twitter shares that would massively,reduce the value of each share meaning,that anyone who is at all invested in,Twitter is going to lose money and so,they're all going to need that deal to,go through but then Elon did something,kind of odd he put the deal on hold,because he all of a sudden felt like,there were just too many fake accounts,on the platform and therefore that he,was overpaying I mean we use YouTube we,can relate to the Bots but this very,sudden 180 did raise the question of if,he was trying to Trash Talk Twitter just,to be able to plummet their stock price,and get away with paying less either way,Twitter wasn't happy about that this guy,was not just trying to retract his offer,but was also soiling their reputation in,the process,so they sued him saying that he had to,pay what he'd initially committed to and,after a long drawn out back and forth it,seemed like Elon just went all right,whatever screw it I'm in he changed his,Twitter bio to Chief twit flew to,Twitter HQ and quite literally let that,sink in then things changed very quickly,he fired the CEO paragagawal he's got,rid of staff on a scale that we've never,seen before taking the workforce all the,way from around 7500 to about 2 000 and,he's already made three enormous changes,to the way the companies run one being,how he's drilled down on the few,employees who have stayed scrapping the,free lunches they used to get vetoing,remote work and forcing them to come,into the office even turning old,conference rooms into bedrooms because,they're being pushed to work up to 80,hours per week two he's amped up,Twitter's monetization by making the,Twitter blue subscription which,previously allowed you to edit tweets,now twice as expensive but justifying it,by adding the additional perk of getting,any paying subscriber the verified tick,necks of their name oh and a sub to the,channel would be beautiful not to,mention his seeming intention to turn,Twitter into yet another video platform,he started pushing for ads on videos,just like YouTube and he's even said,he's going to offer a higher percentage,cut than them to content creators and,then three is elon's take on what should,be and what shouldn't be allowed on,Twitter he started reinstating accounts,that were previously banned including,Donald Trump who was taken off initially,for inciting the riot of the Capitol,building and what all of this has led to,is frankly,chaos big name celebrities have publicly,said they're quitting advertisers have,pulled their spending and every day you,read a new report that basically says,the company is burning down from the,inside out this is fine but is there a,method to this madness Does Elon,actually know exactly what he's doing,what's the reasoning behind all of this,well we can start to build a picture by,looking at what he said when he first,made the offer I didn't do it because,it'd be easy I didn't do it to make,money I did it to try and help humanity,and while it's hard to take that,completely at face value given how he,nearly backed out on the basis that he,was paying too much if all he wanted to,do was to just get even richer than,there were a million easier ways to do,it than offering 44 billion for a,company that's losing money almost every,single year yeah Twitter's financial,situation is not good but we're getting,there plus I mean look at the guy's,other businesses Elon owns Tesla that's,pushing us towards eco-friendly electric,cars SpaceX that's trying to make,Humanity an interplanetary species and,neuraling he's finding a way for our,brains to be able to direct directly,communicate with machines well of course,he is making money from them the point,is they're all also big picture,Progressive companies that are carrying,the global population into the future so,I can believe that there's at least an,element of Truth to his Noble reasons,for acquiring Twitter Elon h

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Elon Musk Twitter Buy Explained: Why He Offered $43 BILLION!

Elon Musk Twitter Buy Explained: Why He Offered $43 BILLION!

elon musk has offered to buy twitter,let's get all the facts,twitter has become kind of the de facto,town square,really important that people have the,both the,the reality and the perception,uh that they're able to speak freely,within the bounds of the low elon musk,offered to buy twitter at 54.20,per share valuing the social media,company at 43 billion dollars according,to a regulatory filing in a letter to,brett taylor the chairman of twitter's,board of directors musk said twitter has,extraordinary potential i will unlock it,an hour after the story broke musk,tweeted i made an offer,muska's offer to buy twitter is the,latest in a string of events between the,billionaire and the social media site it,comes just days after he decided not to,join twitter's board of directors after,acquiring a 9.2 stake in the company in,march,the nearly 3 billion acquisition made,musk twitter's largest shareholder,until the vanguard group increased its,stake and bumped him from the top spot,once news of musk's bid hit twitter,there were mixed reactions,musk's followers and supporters,expressed excitement that he might own,the social media platform but many more,voiced concern at the idea of the,reportedly richest person in the world,owning twitter and adding the company to,his numerous business assets however,musk says he's not looking to make money,from twitter,that is he doesn't view the acquisition,as a financial investment instead he,sees it as a service for public good my,strong intuitive sense is that,having a public platform that is,maximally trusted and broadly inclusive,is extremely important to the future of,civilization i don't care about the,economics at all an avid twitter user,musk is also one of the site's biggest,critics musk tweeted a poll to his 81,million followers in march asking,whether users believe twitter was,protecting free speech,he said the poll results in which,roughly 70 percent of 2 million,respondents answered no would be very,important,as part of his original agreement to,join twitter's board musk had pledged to,cap any investment at 14.9 percent while,serving a two-year term with the,agreement now scrapped musk is free to,add to a stake if musk acquires twitter,he says he wants to increase the,public's trust of the platform by making,it a place of inclusivity and true,freedom of speech a necessary feature of,any functioning democracy he adds during,an interview at the 2022 ted conference,in vancouver musk said that he values,truth on april 9th he shared a tweet,reading truth is the first casualty with,an image from a yougov survey showing,the most trusted media organizations,since announcing his stake in twitter in,april musk has posted several tweets,about what he'd change at the company,and one which has since been deleted he,asked whether twitter's san francisco,headquarters should be turned into a,homeless shelter because no one shows up,anyway in another he asked if twitter,was dying,as one of twitter's largest shareholders,musk already has a lot of power he can,team up with other shareholders and push,for any changes he wants to see musk,also has a tendency to sway public,opinion with his tweets after tweeting,tesla would no longer accept bitcoin as,a form of payment multiple crypto coins,took a dive when he said tesla would,start accepting dogecoin for some,merchandise the cryptocurrency surged,he could use that power and influence to,try to bring changes to twitter without,buying it if he does acquire twitter,musk proposed a number of changes he,would make to the social media platform,including an edit button something he,told his followers about a few weeks ago,twitter has been working on an edit,feature since 2021,something musk didn't acknowledge during,his ted conference interview,musk's edit button would be time,sensitive and also zero out any retweets,eliminating scam bots and bot armies on,twitter would also be a top priority for,musk,he noted during his interview that they,bring down the site's product value and,make it worse for users,musk said you would also make twitter's,content moderation practices more,transparent he added that users should,know whether tweets were being promoted,or de-emphasized manually or,algorithmically,he cautioned against permanent bans from,twitter advocating for temporary,suspensions instead,musk believes twitter's coding structure,should be transparent as well,if he purchases twitter he said he would,post its open source data on github a,popular form for coders so people can,access the company's data identify flaws,and offer solutions,musk is an avid twitter user with over,81 million followers,however he admits he doesn't really have,a strategy for his twitter account his,tweets are reflections of a stream of,consciousness it's impressive,considering that neither tesla nor,spacex companies he owns operate a,marketing or public relations department,news and developments at both companies,is often shared first via muscu's,twitter account,muska's in

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Elon Musk Twitter Takeover Explained in 6 Minutes

Elon Musk Twitter Takeover Explained in 6 Minutes

so elon um a few hours ago,you,made,an offer to buy twitter,why,elon musk is the richest person on the,planet with an estimated net worth,around the 264 billion dollar mark known,for tesla and spacex as well as being,part of the paypal mafia musk is a big,personality when it comes to social,media and one particular social media,has piqued his interest twitter as we,all know is a real-time information feed,where people say what they think in 280,characters or less and every subject,matter has an audience and a resident,expert as of yesterday however the board,of twitter has agreed to a 44 billion,dollar takeover offer from elon musk,here's how it happened elon musk has,always been vocal on twitter often,tweeting about the site as well as,posting other random things like,dogecoin memes or 420 references u.s,regulators have continuously proposed,monitoring his tweets suggesting he was,tweeting recklessly which had a,significant impact on the stock market,that was proven to be true back in 2018,when the sec bought fraud charges,against musk for a statement that he,could take tesla private at 420 dollars,per share a costly 20 million dollar,tweet however being the richest man on,the planet has its perks with musk,capable of activist investing at the end,of january 2022 elon musk began,acquiring shares in twitter holding a,7.5 stake in the business by the 24th of,march while simultaneously tweeting a,poll to his twitter followers on whether,twitter's algorithm should be open,source the next day march 25th musk then,polled his followers once again on,whether they thought twitter rigorously,adhered to the principle of free speech,whilst buying another 3.5 million shares,in the background on the 27th of march,musk then tweeted that he was giving,serious thought to building his own,platform to rival twitter before he,threw a curveball revealing on april the,4th that he was in fact a 9.2 percent,twitter shareholder in a regulatory,filing which works out at almost 3,billion in investment and sent the,twitter shares into orbit the next day,april the 5th musk was appointed to,twitter's board by parag agrowal however,less than a week later musk began,tweeting about the lack of tweets from,several of twitter's largest,personalities thinking that the social,network might be dying and decided,against joining the board on the 12th of,april elon musk was then sued by a,twitter shareholder because he'd failed,to disclose his five percent stake in,time with the regulators which allowed,him to buy more stock at a lower price,before it rocketed on april the 14th,musk then threw another curveball,offering to buy twitter outright for 44,billion dollars significantly above its,market cap at the time of 36 billion,paying 54.20,a share in an all-cash offer this time,filing through the sec just a few hours,later and musk spoke at the ted 2022,conference which was live stream to the,public,why make that offer oh so,um,well i think it's very important for,uh there to be,an inclusive arena for,free speech twitter has become kind of,the de facto town square,so it's just really important that,people have the both the uh the reality,and the perception,that they're able to speak,freely within the bounds of the law um,but the next day on the 15th of april,musk was dealt a blow as twitter's board,announced that the company would adopt a,limited duration shareholder rights plan,in a bid to prevent musk from buying the,social network in m a speak this is a,poison pill defense which would let,existing shareholders buy more stock at,lower prices to dilute the shares and,push up musk's price but musk wasn't too,concerned however it's all well and good,saying you'll buy something but now musk,had to show how he'd buy it because not,many people have 40 odd billion dollars,sat in cash so on the 21st of april musk,laid out how he'd borrow 13 billion,dollars in the form of loans from morgan,stanley among other financial,institutions next he'd take out another,12 and a half billion dollars in margin,loans again from morgan stanley against,his shares in tesla and other businesses,finally musk would provide an equity,commitment himself which equates to 21,billion dollars in cash by the 25th of,april twitter seemed to be edging closer,to agreeing a deal with musk according,to the new york times with the parties,hammering out final details including,financial protection for twitter should,the deal go pear-shaped and late in the,day on monday the 25th of april the,twitter shares were halted as all,parties agreed to the takeover now it's,important to look at why musk would want,to buy twitter in the first place,twitter gets mixed reviews some calling,it a total mess and others saying it's,extremely influential it's not kept up,with facebook and tiktok in terms of its,advertising model and has lacked serious,innovation since it was founded in 2006.,now elon musk wants to unleash twitter,with the goal of creating an inclusive,arena for free speech musk has often,t

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The Real Reason Elon Bought Twitter For 44 Billion!

The Real Reason Elon Bought Twitter For 44 Billion!

all right let's do it let's talk about,Elon Musk buying Twitter it's a topic,we've been largely avoiding as a tech,focused Channel but now that this has,officially made the leap from,speculation to confirmed Twitter,purchase we probably need to examine,what this means for Elon and his,portfolio of business ventures because,this will undoubtedly have a wider,ranging effect ostensibly Elon says that,he is buying Twitter because he wants to,protect free speech and democracy in a,series of text slides posted to his,Twitter feed Elon wrote it is important,to the future of civilization to have a,common digital Town Square where a wide,range of beliefs can be debated in a,healthy manner without resorting to,violence which I think is something that,most people could easily agree is a,great idea but we seem to be having a,much more difficult time agreeing on how,that architecture should be built and,who should manage it Elon Musk probably,isn't the best candidate for the job but,he's not the worst either and one thing,that we can safely say for sure is that,Elon did not buy Twitter to make money I,don't think you'll find one person who,would claim he got a great deal,purchasing a social media company for 44,billion dollars in this economy,particularly as we watch The Old Guard,at Facebook slowly crash and burn so,what's Elon up to with this whole,Twitter situation why is he doing it,let's try and work that out,foreign,let's try and remember how we got here,in the first place because it's been a,while,this all started back in March when Elon,started musing that he's given serious,thought to building an alternative to,Twitter little did we know that Elon had,already started buying up massive,amounts of Twitter stock and had,approached the board and CEO of the,company to talk about the potential of,taking his own seat on the board then in,April public regulatory filings revealed,that Elon has actually gathered up a,nine percent stake in Twitter shares,worth about three billion dollars the,following day Elon is offered a seat on,the company's board of directors on the,condition that he stopped buying more of,the company CEO parag agrawal tweets it,became clear to us that he would bring,Great Value to our board,less than five days later Elon,reportedly messaged Twitter's board,chairman Brett Taylor and said fixing,Twitter by chatting with parag won't,work drastic action is needed Elon,declines his seat on the board a few,days later on April 14th a Securities,filing shows that Elon has made an offer,to buy the company outright for 44,billion dollars then there was the,months-long back and forth where Twitter,said they didn't want to be purchased,and try to thwart what they called a,hostile takeover then they changed their,mind and accepted elon's offer then Elon,started saying that maybe he didn't want,Twitter because they couldn't properly,account for the spam Bots and fake,accounts and by July he had decided he,wasn't actually going to do the deal at,all but Twitter had seemingly warmed up,to the idea of the whole hostile,takeover thing and they sued Elon to,force him to buy them Elon countersuit,and then the whole situation kind of,went on the back burner while the the,lawyers said about their work that,brings us to October where things get,interesting again Elon tweeted on the,fourth buying Twitter is an accelerant,to creating X the everything app and,followed that up by writing Twitter,probably accelerates X by three to five,years but I could be wrong so that was,our first real signal that Elon had,bigger plans for Twitter than just,dialing back censorship and making the,platform more open he wants to leverage,the Twitter platform to finally create, whatever that is apparently it,will be everything which tells us,basically nothing what we do know is,that Elon made his decision to yield his,court battle just days before he was,scheduled to take the stand for his,deposition by Twitter lawyers it's,almost certain that this would have been,a hostile grueling and likely revealing,cross-examination that may have played a,part in his choice Elon was given until,October October 28th to come up with the,44 billies which he collected from a,variety of Partners and investors that,range from personal friends to Silicon,Valley Tech Titans to even a highly,controversial contribution from the,Crown Prince of Saudi Arabia and finally,on October 26th Elon walks through the,front door of Twitter's San Francisco,headquarters carrying a kitchen sink,announcing let that sink in the next day,Elon fires CEO parag agrawal along with,the majority of Twitter's top Executives,they're escorted out of the building by,security Elon installs himself as the,sole director of Elon did,clarify that his time as Chief twit will,only be temporary but for now at least,he's flying solo and for sure we could,get into all of the hot takes flying,around from unnamed sources familiar,with the matter who say that Elon is,going to lay off three

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Elon Musk Bought Twitter: How We Got Here

Elon Musk Bought Twitter: How We Got Here

Elon Musk hasn't shied away from making,headlines over the last few months or,ever really as he works out his deal to,buy Twitter well kind of he wanted to,buy it then he didn't then he wanted to,again look it's this whole thing I'm a,bar LTT and I'm gonna break it all down,for you,so how did this whole mess begin let's,take it back to March 14th 2022 when,musk took a 9.2 percent stake in Twitter,that made him the social Network's,biggest shareholder the public found out,about the deal in early April then the,next day we learned musk was joining,Twitter's board of directors he began,tweeting about all the things that he'd,change at the company in early April for,example he pulled his users about,whether they wanted an edit button,Twitter quickly announced it was working,on this feature already musk tweeted,some other suggestions that caught,people's attention he asked if Twitter's,headquarters should be turned into a,homeless shelter because quote no one,shows up anyway he eventually deleted,that tweet on April 9th he fanned the,Flames by asking is Twitter dying but,things got really interesting on April,10th when Twitter CEO parag agrawal said,musk wasn't joining the company's board,after all agrawal shared in a tweet,quote elon's appointment to the board,was to become officially effective April,9th but Elon shared that same morning,that he will no longer be joining the,board some speculated this could mean,musk was actually looking to buy the,company see as part of his agreement to,join Twitter's board musk pledged to cap,any investment in Twitter at 14.9,percent while serving a two-year term,but now that the agreement had been,scrapped he was free to keep adding to,his stake and that turned out to be true,on April 25th musk agreed to buy Twitter,for 44 billion dollars taking it private,Twitter's board of directors unanimously,approved the deal in late April and in,June recommended shareholders also,approved the sale in a letter to,investors included in the SEC filing the,board said it quote determined that the,merger agreement is advisable but there,was drama brewing in May the deal was,put on hold musk threatened to back out,if Twitter couldn't prove that less than,five percent of accounts on its platform,were Bots he accuse the company of quote,actively resisting and thwarting his,right to information about the number of,bots on the site but if musk walked away,from the deal he'd have to pay a one,billion dollar fine so some people,speculated he was just looking for a way,out or an excuse to renegotiate the,price then officially on July 8th musk,said he was pulling out of the deal in a,letter sent by his lawyer musk said,Twitter breached multiple parts of the,merger agreement by failing to provide,more information about how it estimates,the number of spam accounts the letter,said quote this information is,fundamental to Twitter's business and,financial performance I made another,video on why musk is so concerned about,Bots if you want to check that out,Twitter sued musk on July 12 to complete,his 44 billion dollar purchase it,accused him of breaching the agreement,and called his exit strategy a quote,model of hypocrisy the company alleged,the billionaire is trying to pull out of,the deal because his per personal wealth,has fallen so the acquisition has become,more expensive for him more specifically,the lawsuit notes musk's stake in his,company Tesla declined by more than 100,billion dollars from its peak in,November 2021 and that's why he wants to,back out of the Twitter deal the,complaint said quote musk apparently,believes that he unlike every other,party subject to Delaware contract law,is free to change his mind trash the,company disrupt its operations destroy,stockholder value and walk away Twitter,clearly doesn't mince its words then,things got even more intense in August,when a whistleblower complaint alleged,Twitter lied to musk about the number of,spam bots on its platform it also,accused the company of prioritizing,making money over user security,Twitter pushed back against the,allegations saying it was quote riddled,with inconsistencies and inaccuracies,and lacks important context still musk's,lawyers tried using the Whistleblower,complaint as part of his argument for,ending the deal but the tides turned,once again on October 3rd when musk's,lawyers sent a letter to Twitter stating,he plans to move forward with purchasing,the company at the original offer price,of 54.20 a share the timing of this was,interesting since it came just days,before a trial between musk and Twitter,was set to begin on October 17th reports,said musk's lawyers sense the case,wasn't going well based on what happened,in pre-trial hearings also getting out,of a merger agreement is tough and the,legal bar to do so is high some analysts,said musk's chances of winning seemed,highly unlikely Twitter says closing the,deal is in the best interest of,shareholders and it plans to do so at,the agreed price on October 6 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Elon Musk Buys Twitter, the News (Taylor's Version): This Week's News | The Tonight Show

Elon Musk Buys Twitter, the News (Taylor's Version): This Week's News | The Tonight Show

-Welcome, everybody. Welcome, welcome, welcome, welcome,to "The Tonight Show." You're here. You made it.,♪♪,Let's get to some news. Well, guys, President Biden says,that he plans to run for re-election in 2024.,Meanwhile, at a rally this weekend,,President Trump also hinted at running.,It's big news, but all I can think about is Taylor Swift,being on the show tonight, so...,So you know what that means.,It's time for "The News (Taylor's Version).",Here we go. ,♪♪,So, Biden and Trump are both running for re-election,,and they've got major "bad blood,",which everyone knows "all too well.",Of course, Trump has quite the "reputation.",Every other day, he's like, "I did something bad,",and Biden has to be like,,"This is why we can't have nice things,",which is why this could be the most dramatic election,ever -- more -- Importantly --,"Evermore" importantly, they both need running mates.,Biden is looking at Kamala like, "You belong with me,",while Trump is looking at Mike Pence like,,"We are never ever getting back together.",Like, ever.,Pence is actually considering a run of his own,,but everyone is like, "I forgot that you existed.","Long story short," everyone is tired of politics.,But, hey, "you need to calm down,","shake it off," and get "ready for it,",because "'tis the damn season." So --,Go get your voting "card again,",head to the polls --,Yeah, that was a stretch, that one.,Head to the polls and fill in every "blank space.",It doesn't matter if you're blue or "red",or even a "lavender haze.",You've got to let your voice be heard,,both in 2024 and during the midterms in "'22.",This has been "The News (Taylor's Version).",♪♪,"Card again." -Yeah.,-No, that was awful. That was a stretch there.,Yeah, that's right. Biden intends to run again.,And in a recent interview on MSNBC, he was asked,about his concerns over his age.,Check out the President's response right here.,-I think it's a legitimate thing to be concerned,about anyone's age, including mine.,That's not how I feel.,I can't even say the age I'm gonna be.,I can't even get it out of my mouth.,-I've heard of people dancing around their age,,but I've never seen someone,actually dance around their age, like...,Eventually, a middle-school nun stepped in like,,"Leave room for the Holy Ghost.,Leave -- Leave room for the Holy Ghost.",Secret Service didn't know what to do.,They were like, "Should we step in or give them alone time?,What's the call here?" ,Some more political news -- over the weekend,,former president Trump held a rally in Texas,,and I noticed that he had some trouble,with the word "smuggler." Watch this.,-They've deliberately surrendered our border,to vicious coyotes and drug smaller --,I mean, these drug smug--,The smuggler. A smuggler!,-"These drug snugglers -- drug smuckers --,drug snickerdoodles, they --" ,He sounds like he took whatever illegal drug,is being "smullered" across the border.,Sounds like a guy trying to do his first Wordle.,It's like, "Small? Smug? Is smulg a word?,I'm gonna try 'smulg' anyway. Why not?,Let's see. Oh, I'm very smart.",Speaking of Trump, the January 6th Committee,announced that they have subpoenaed the former president.,Yep, Trump's already bragging like,,"I've got the biggest subpoena.,I've been saying it for years.,Nobody's subpoena is bigger than mine.",Yep, the committee was like,,"Here's a federal document that you can keep.",Yeah. ,Some big news from overseas -- today, Britain announced that,Rishi Sunak is going to be their new prime minister,after Liz Truss lasted only six weeks in office.,Yeah, when he showed up to his new office, people were like,,"You can unpack your things, but I wouldn't hang up,anything on the walls." ,Yeah, on Thursday, after 45 days in office,,Liz Truss announced her resignation,as prime minister of Britain.,Let's take a look back,on all the greatest moments of Liz Truss.,♪♪,-Good afternoon.,♪♪,-Well, some sports news -- the World Series matchup,is set with the Houston Astros,taking on the Philadelphia Phillies., And, of course --,♪♪,Of course, the fans from Philadelphia are super pumped.,Check out this video.,-Let's go, Philly! ,-I'm feeling great!,Four more dub!,-Come on, Phillies!,Four more! World Series, baby!,-We got married on Friday, and the Phillies won!,-This is the best part of the weekend by far!,-Oh! "By far"?,-"By far." -Oh, my God.,-A lot of people have videos of the moment they got married,,but very few have a video of the moment,their marriage fell apart. You know what I'm saying?,Finally, scientists in Japan have gotten closer to finding,a cure for baldness after they were able,to grow hair follicles in a lab.,Well, they actually grew them just outside the lab,,then they combed them over into the lab.,Some fun holiday news --,Mariah Carey just announced that, this December,,she's playing a Christmas show at Madison Square Garden.,Mariah Carey Christmas show in New York City.,When they heard that, The Rockettes were like,,"Stay in your lane, girl!","Stay in your

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