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The business magnate Elon Musk initiated an acquisition of American social media company Twitter, Inc. on April 14, 2022, and concluded it on October 27, 2022. Musk had begun buying shares of the company in January 2022, becoming its largest shareholder by April with a 9.1 percent ownership stake.
On October 4, 2022, it was reported that Musk offered to proceed with the deal at the original offer price of $54.20 per share. [ 69 ] [ 70 ] The deal closed on October 27, 2022, with the merger between Twitter, Inc. and X Holdings II, Inc., a wholly owned subsidiary of X Holdings I, Inc., wholly owned by Musk, [ 71 ] and Musk took control of ...
The Securities and Exchange Commission sued Elon Musk in federal court on Tuesday for allegedly misleading shareholders when he bought hundreds of millions of dollars worth of Twitter stock in ...
Early signs of interest. Musk first joined Twitter in June 2009 and has amassed over 115 million followers since then. Over the years, his tweets have created news headlines and even caused moves ...
“In total, Musk underpaid Twitter investors by more than $150 million for his purchases of Twitter common stock during this period,” the complaint reads “Investors who sold Twitter common ...
Elon Musk completed his acquisition of Twitter in October 2022; Musk acted as CEO of Twitter until June 2023 when he was succeeded by Linda Yaccarino.In a move that, despite Yaccarino's accession, was widely attributed to Musk, [1] [2] Twitter was rebranded to X on July 23, 2023, [3] and its domain name changed from twitter.com to x.com on May 17, 2024.
Character Limit chronicles the rise and fall of Twitter after Elon Musk's tumultuous $44-billion-dollar acquisition. The book showcases Musk's volatility, highlighting the actions that led to the company's drastic devaluation and the resurgence of unmoderated hate-speech, misinformation, and white nationalism on the platform.
Elon Musk sent Twitter stocks soaring last week after he revealed - rather fittingly - through a tweet that he had filed an offer with the SEC to buy the American social media company. The stock ...