Remember When Elon Musk Was No Longer Interested In Buying Twitter?
Elon Musk may have eventually bought Twitter in October 2022 for $44 billion but many of us might have forgotten the twists and turns in the record-breaking deal saga. Initiated by the SpaceX founder in April 2022, it took six months for the private deal to finalize, with Musk almost backing out at one point.
Musk, the man with many accolades, is a famous figure and keeps up with it by keeping himself relevant on the internet in different ways: his celebrity exes or maybe because he currently fathers eight children and doesn’t plan on stopping. Musk has garnered a celebrity status for himself, so you might find a few fans here and there.
The interesting thing about Elon Musk is that he knows how to keep the fans entertained. Earlier in 2022, the multi-billionaire announced that he would be dealing with Twitter executives and would try to strike a deal to buy the platform. In the following days, it was revealed that a deal had reached its final phase; Twitter was being sold to Elon Musk for the hefty price of $44 billion.
Elon Musk Backs Out
Now, before you jump onto Twitter and start aiming angry tweets at the 51-year-old, you should know that Musk had a good reason behind his initial reservations. Most of the antics that he pulls sound like there is no thought behind them. However, when it comes to the infamous Twitter deal, his legal team claimed that Twitter was in material breach of multiple provisions and that the company had made misleading and false claims about the condition that their business was in, according to a letter published by SEC.
A Statement From Twitter
However, Twitter representatives did not shy away from issuing a statement! The board chair, Bret Taylor, tweeted that the company was still looking forward to sealing the deal on the price and following the terms that were agreed upon by both parties. The tweet also talked about pursuing legal actions to make sure that the merger takes place. In the end, Taylor tweeted that the company was confident it would prevail in the Delaware Court of Chancery.
High Hopes
The SpaceX owner initially finalized the deal with the company in early April of 2022 for the shocking price of $44 billion. In a press release in April, the Tesla CEO stated that free speech is a bedrock of a functioning democracy. He continued to call Twitter the digital town square where crucial matters are discussed – matters that are vital to the future of humanity.
He also shared his plans for transforming the already-loved social media platform and mentioned that he wanted to transform twitter by adding new features, increasing transparency by opening the algorithms, and getting rid of the spam bots while making sure only humans use it.
We might question Musk’s reservations and accuse him of buyer’s remorse, but since we’re talking about a massive $44 billion deal here, can you really blame him?
More in Investments & Savings
-
`
Nina Dobrev and Julianne Hough | From Friends to Business Partners
In the world of wine, where passion meets business, best friends Nina Dobrev and Julianne Hough prove that mixing friendship and...
November 7, 2023 -
`
Cha-Ching! Dr. Dre’s Ex-Wife’s $100 Million Divorce Settlement
In the world of Hollywood’s tumultuous divorces, Dr. Dre and his ex-wife Nicole Young’s split takes center stage as one of...
November 1, 2023 -
`
Joe Jonas and Sophie Turner’s Surprising Showbiz Wealth
Joe Jonas and Sophie Turner, the power couple of Hollywood, have managed to amass quite a fortune during their illustrious careers....
October 29, 2023 -
`
10 Best Money Tips to Secure Your Financial Future
Money is vital in our lives, impacting our day-to-day well-being and long-term financial security. Whether you aim to save for a...
October 19, 2023 -
`
The World’s Richest Celebrity Couples
Love and fame are not mutually exclusive, and when the two worlds collide, they create a magnetic force of success and...
October 3, 2023 -
`
Why Mutual Fund Taxes Can Eat Into Your Earnings
Investing in mutual funds has long been a favoured avenue for individuals seeking to grow their wealth. Offering diversification, professional management,...
September 28, 2023 -
`
Key Takeaways From David Rubinstein’s “How To Invest: Masters On The Craft”
When it comes to investing, everyone wants to learn from the best. David Rubinstein’s “How to Invest: Masters On The Craft”...
September 22, 2023 -
`
U.S. Credit Card Debt Surpasses $1 Trillion
On the heels of a global pandemic, people are turning to their credit cards more than ever before to make ends...
September 15, 2023 -
`
Ashton Kutcher’s Journey to Entrepreneurship
When you hear the name Ashton Kutcher, the image of a charismatic actor known for his roles in Hollywood comedies and...
September 5, 2023
You must be logged in to post a comment Login