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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.
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.
The lawsuit from the SEC against Musk is essentially about him not disclosing his purchase of a large portion of Twitter’s stock in the months before he announced his intention to buy the company.
While Musk has often tweeted about Twitter in various contexts over the past 13 years, the topics of his tweets began shifting in 2020 from memes and his company Tesla toward critiques about ...
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 ...
[50] [51] [52] In response, Twitter's stock rose by as much as 27% and Twitter shares experienced the largest intraday surge since Twitter's IPO in 2013. [53] Musk was appointed to Twitter's board on April 9, under a deal that prohibited him from acquiring more than 14.9% of the company. [51] [54] [55]
Musk started buying shares of Twitter, which he later renamed X, in early 2022. By mid-March, he'd acquired ownership of more than 5% of the company's outstanding stock, according to the SEC filing.
The month of the acquisition, Twitter changed both its page for real-time searches and its search API to use Summize's product. [2] Wired said, "Summize is a natural fit for Twitter and should help the service be a little more approachable." [2] 2 November 24, 2008: Values of n Social software development