Business magnate Elon Musk initiated an acquisition of American social media company Twitter, Inc. on April 14, 2022, and concluded it on October 28, 2022. Musk stated he intended to buy Twitter to build X, an everything app he had been developing since 2018 to mimic the Chinese app WeChat.[1] Musk had begun buying shares of the company in January 2022, becoming its largest shareholder by April with a 9.1 percent ownership stake. Twitter invited Musk to join its board of directors, an offer he initially accepted before declining. On April 14, Musk made an unsolicited offer to purchase the company, to which Twitter's board responded with a "poison pill" strategy to resist a hostile takeover before unanimously accepting Musk's buyout offer of $44 billion on April 25. Musk stated that he planned to introduce new features to the platform, make its algorithms open-source, combat spambot accounts, and promote free speech.
In July, Musk announced his intention to terminate the agreement, asserting that Twitter had breached their agreement by refusing to crack down on spambot accounts. The company filed a lawsuit against Musk in the Delaware Court of Chancery shortly thereafter, with a trial scheduled for the week of October 17. Weeks before the trial was set to begin, Musk reversed course, announcing that he would move forward with the acquisition. The deal was closed on October 28, with Musk immediately becoming Twitter's new owner and CEO. Twitter was taken private and merged into a new parent company named X Corp. Musk promptly fired several top executives, including previous CEO Parag Agrawal. Musk has since proposed several reforms to Twitter and laid off half of the company's workforce. Hundreds of employees then resigned from the company after Musk issued an ultimatum demanding they commit to "extremely hardcore" work. Linda Yaccarino was appointed CEO of X Corp. In July 2023, the Twitter service was rebranded as X.
Reactions to the buyout were mixed, with praise for Musk's planned reforms and vision for the company, particularly his calls for greater free speech, but criticism over fears of a potential rise in misinformation and disinformation, harassment, and hate speech on the platform. Within the United States, conservatives have largely supported the acquisition, while many liberals and former Twitter employees have voiced concerns about Musk's intentions. Since becoming owner, Musk has faced backlash for his handling of the company and account suspensions, including the December 2022 suspensions of ten journalists.
^"x.com". X (formerly Twitter). Retrieved June 4, 2024.
and 23 Related for: Acquisition of Twitter by Elon Musk information
magnate ElonMusk initiated an acquisitionof American social media company Twitter, Inc. on April 14, 2022, and concluded it on October 28, 2022. Musk stated...
later on. In June 2009, business magnate ElonMusk joined Twitter, and has held an interest in the site. Musk's tweets, ranging from adoration to repudiation...
ElonMusk is the CEO or owner of multiple companies including Tesla, SpaceX, and X Corp, and has expressed many views on a wide variety of subjects, ranging...
Elon Reeve Musk (/ˈiːlɒn/; born June 28, 1971) is a businessman and investor known for his key roles in space company SpaceX and automotive company Tesla...
October 2022, the billionaire businessman ElonMusk acquired Twitter for US$44 billion, gaining control of the platform and becoming the chief executive...
the acquisitionofTwitterbyElonMusk on October 28, 2022, Musk told Twitter employees to introduce paid verification by November 7 through Twitter Blue...
menswear guy" on Twitter, is a Canadian fashion industry writer and commentator. He gained fame following the acquisitionofTwitterbyElonMusk when the site's...
pandemic challenged Twitter's handling of misinformation on the platform. ElonMusk took Twitter private in 2022 and later changed the name of the service to...
documents published from December 2022 through March 2023 on Twitter. CEO ElonMusk gave the documents to journalists Matt Taibbi, Bari Weiss, Lee Fang, and...
ElonMusk is an American businessman and investor who has made numerous cameo appearances in films and television shows as himself. These appearances...
decisions made byTwitter. On October 27, 2022, she was fired byElonMusk, following his acquisitionofTwitter. In 2014, she was described by Fortune as...
of Facebook (now Meta Platforms), as the chairman ofTwitter, Inc.'s board of directors prior to its acquisitionbyElonMusk, and as the co-CEO of Salesforce...
interests" of the company or its stockholders. Following ElonMusk'sacquisitionofTwitter, many commentators observed that a Musk-run Twitter would be...
December 11, 2015. Retrieved January 24, 2015 – via Twitter. Vance, Ashlee (January 23, 2015). "ElonMusk Guest-Stars on The Simpsons – Bloomberg Business"...
ofElonMusk encompass the legal cases involving businessman ElonMusk as the plaintiff, defendant, or concerning his companies. In March 2024, Musk sued...
History of TikTok Timeline of Snapchat Timeline of Pinterest Timeline of LinkedIn Timeline of social media "ElonMusk buys Twitter for $44B and will privatize...
construction services, and equipment company founded byElonMusk. TBC was founded as a subsidiary of SpaceX in 2017, and was spun off as a separate corporation...
working together on Pistol. During ElonMusk'sacquisitionofTwitter in October 2022, text exchanges between Musk and Riley were released where she pleaded...
the acquisitionofTwitterbyElonMusk in November 2022. Hive Social was developed by Raluca Pop, also known as Kassandra Pop, with the help of a freelance...
developed, as of 2024, implantable brain–computer interfaces (BCIs), and is based in Fremont, California. Founded byElonMusk and a team of seven scientists...
2024). "ElonMusk is arguing with his own Community Notes on X". Mashable. Retrieved February 28, 2024. Mehta, Ivan (May 31, 2023). "Twitter launches...
Global Information
