elon musk buys twitter
How Elon Musk bought Twitterafter months of legal drama Elon Musk,has completed his 44 billion deal
Updated on Jan 12,2023
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 buys twitter catalogs
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