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Acquisition of Twitter by Elon Musk. Business magnate Elon Musk initiated an acquisition of American social media company Twitter, Inc. on April 14, 2022, and concluded it on October 28, 2022. Musk stated he intended to buy Twitter to build X, an "everything app" he had been developing since 2018 to mimic the Chinese app WeChat. [ 1]
Tesla CEO Elon Musk's $44 billion purchase of Twitter has been followed by a series of chaotic events for the social media platform, including the workforce being slashed by 80% and the ...
Twitter announced on Monday that it has entered into a deal to be acquired by Tesla CEO Elon Musk for $44 billion.Twitter shareholders will receive $54.20 per share, and when the deal is finalized ...
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.Under Musk, Twitter was rebranded to X on July 23, 2023, [3] and its URL changed from twitter.com to x.com on May 15, 2024.
Elon Musk’s purchase of Twitter could go down as the worst leveraged buyout (LBO) deal for banks since the 2008 global financial crisis in the latest worrying sign the deal is proving costly to ...
On October 4, Musk announced his intention to purchase the company as he had agreed, for $44 billion, or $54.20 a share; [16] the agreement closed on October 27. Following Musk's takeover, Twitter was criticized for an increase in hate speech, [17] as well as for perceived systemic prioritization of right-wing content.
The purchase price represents a 38% premium over Twitter’s closing stock price on April 1, 2022, which was the last trading day before Musk disclosed his approximately 9% stake in Twitter ...
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.