Search results
Results from the WOW.Com Content Network
[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.
On March 9, 2023, Musk registered X Corp. in Nevada.On the same day, Musk registered the artificial intelligence (AI) company X.AI Corp. [18] Later that month, Musk applied to merge X Holdings with X Holdings Corp. and Twitter, Inc. with X Corp. [9] In the filing, Musk revealed that X Holdings Corp. had $2 million in capital, but X Holdings Corp. would serve as the parent company for X Corp ...
Twitter's board publicly and unanimously accepted the buyout offer for $44 billion, and Twitter was to become a private company once the transaction was completed sometime in 2022. [ 40 ] [ 41 ] Negotiations with Musk were led by the board's transaction committee, composed of Taylor, Martha Lane Fox , and Patrick Pichette . [ 42 ]
The SEC has been conducting a fact-finding investigation into the period before Musk’s Twitter takeover, when the San Francisco-based social media company was still publicly traded.
Musk in 2018 teased he was "considering taking Tesla private" if the share price hit $420, but the company is still publicly traded despite crossing the meme-ified benchmark more than once.
In a letter and text message to Twitter's board, he offered to buy Twitter for $54.20 a. share — a 54% premium over the last day of trading before he started acquiring shares.
Twitter, officially known as X since 2023, is a social networking service.It is one of the world's largest social media platforms and one of the most-visited websites. [4] [5] Users can share short text messages, images, and videos in short posts commonly known as "tweets" (officially "posts") and like other users' content. [6]
The most valuable companies in the world have grown to impressive heights in recent years, with 10 publicly traded companies reaching market capitalizations of roughly $1 trillion or more.