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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.
Established by Elon Musk in 2023 as the successor to Twitter, Inc., it is a wholly owned subsidiary of X Holdings Corp., which is itself mostly owned by Musk. The company owns the social networking service X (formerly known as Twitter), and has announced plans to use it as a base for other offerings. While the official name of the company and ...
On Friday, Musk bought another 2.2 million shares of the stock and by the close of trading, he owned more than 9% of Twitter’s outstanding shares, the SEC claimed.
Fidelity was one of several companies that helped Elon Musk acquire social media platform X, formerly known as Twitter, back in 2022. ... The global games market is projected to generate $272B by ...
Via the Elon Musk Revocable Trust, the SpaceX founder is also listed. Musk purchased the site for $44 billion in 2022, though the filing did not make clear the proportion of his investment versus ...
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. [ 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 US Securities and Exchange Commission sued Elon Musk on Tuesday for ... Musk began to acquire a “significant number” of Twitter shares. By mid-March 2022, he owned more than 5% of the ...
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.