Search results
Results from the WOW.Com Content Network
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.
That’s a 78.7% drop. Buying Twitter was a $46.5 billion deal: $44 billion went to shareholders and about $2.5 billion went to expenses. Musk and his coinvestors put about $33 billion into the ...
X, formerly known as Twitter, has hit a rough patch ever since the outspoken CEO of Tesla, Elon Musk, bought it for $44 billion in October 2022. While now a private company, the estimated ...
[51] [52] [53] 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. [54] 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. [52] [55] [56]
Musk and his co-investors paid $44 billion to acquire the company then known as Twitter. Fidelity said this year that it believes the company’s value had fallen about 71% since then.
On Oct. 27, 2022, Elon Musk, the richest man in the world, bought one of the most popular social media platforms. Here's what he's changed in the last two years.
Since Musk closed his $44 billion deal to buy Twitter on October 27 of last year, he has not only rebranded the company as “X” but fundamentally changed what was once one of the world’s most ...