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Musk's acquisition of Twitter was principally responsible for the development of Threads, a social media platform which closely resembles Twitter, by rival company Meta Platforms. Work began on the service in November 2022, and it was released on July 5, 2023, amidst continued backlash to changes to Twitter enacted by Musk and Yaccarino.
[70] [71] 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, [72] and Musk took control of the company, [73] paying $54.20 per share, or about $44 billion. [74]
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.
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 ...
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.
Elon Musk already faces pushback from celebrities, lawmakers, and advertisers worried about Twitter’s changes.
The explosive announcement that Elon Musk is buying Twitter and taking it private has generated a slew of commentary. While there have been some hosannas, the general tone has tended more toward ...
The service is owned by the American company X Corp., which was established to succeed the prior owner Twitter, Inc. in March 2023 following the October 2022 acquisition of Twitter by Elon Musk for US$44 billion. Musk stated that his goal with the acquisition was to promote free speech on the platform.