Elon Musk is buying Twitter..
the CEOs of Tesla, SpaceX, Neuralink along with the Boring Company is set to add a company feather in his cap following the social media giant’s announcement on Monday, April 25, has announced on April 25 that it will accept Technoking’s self-described $44 billion offer to purchase $54.20 per share.
The responses were uneven.
How did we get here?
Musk first began purchasing huge quantities of Twitter stock in March 2022. He was reportedly not disclosing his purchases in a timely fashion in accordance with securities legislation ( getting himself a impressive one-hundred million dollars during the course of his purchase).
The stock grab is only the latest episode in what could refer to as a tangled relation between Musk and Twitter, the twitter platform. In the past, Musk has been charged with securities fraud, for ” misleading tweets,” been taken to the court for his tweets that he used to attack on cave divers and, most recently, suggested the transformation of twitter’s San Francisco office into shelter for people who are homeless.
It appears that the author really wants to edit the button.
Musk’s account on Twitter that at the time of writing , has a staggering 8 million users, has become vital in his brand’s personal image. In addition, since he’s removed Tesla’s public relations department It’s also vital to his company.
Musk’s totally free and unrestricted use of his Twitter account, has at a variety of moments over the past several years, been a bit challenged, most notably in the context of an agreement to the Securities and Exchange Commission required Musk to seek approval from Tesla for specific tweets. Musk seemed to disregard the specific Twitter requirements of the settlement.
In March of 2022, when Musk’s purchases were revealed There was speculation of him joining the Twitter board. A deal to join the board was agreed upon in April However abruptly, Twitter declared that Musk will not be joining the board in the end.
Why? Maybe it was something to have to do with Twitter Board members only being restricted to holding 14.9 percent of the company.
The time was when Twitter staff were reported to be relieved that Musk did not have to serve on the board.
What is next
The path ahead for both Twitter and also for Musk is an uphill one.
The extremely enthusiastic Twitter user has published the tweet, in some cases, and in some instances, deleted multiple polls asking Twitter users to suggest changes that need to be made to the platform in general. The New York Times says the fact that Twitter employees are confused by what the purchase will mean regarding the platform they use and for their heavy stock compensation.
The company even went so that it could be able to lock down the changes made to its product possibly, as Bloomberg reports, to “keep employees unhappy about the decision from “going rogue.'”
Musk has, at the same time posted a statement on (where is it?) Twitter where he shared the things he would like to achieve.
“I would like to improve Twitter more effective than ever by improving the service by adding new features and making the algorithms open-source to improve trust, tackling spam bots and authenticating all human beings,” he wrote in the second part of his statement.
The statement isn’t anywhere in which the most powerful person on the planet mention what seems to appear to be the best-known motive to buy the item: Now no one will be able the demise of his beloved toy.
After the transaction goes through and the transaction is completed, we’ll all play in his Sandbox.