Elon Musk Buys Twitter In $44Bn Deal ? An Uncertain Future
Elon Musk champions "free" speech on Twitter after acquiring unanimous approval from the company?s board. Yet, many remain sceptical and concerned for the platform?s future.
The post Elon Musk Buys Twitter In $44Bn Deal ? An Uncertain Future appeared first on LUXUO.
Image: NBC News
Elon Musk, currently the world?s richest man with Forbes? estimated net worth of nearly US$300 billion, has reached a US$44 billion deal to buy Twitter.
The 50-year-old is widely known as the CEO of Tesla and has brought the automotive company to reach great heights. As a passionate entrepreneur, investor, media proprietor and business magnate ? founder of SpaceX, The Boring Company, and co-founder of Neuralink and OpenAI ? Musk had also set his sights on one of the most popular social media networks.
READ MORE: Experience the Exceptional of Elon Musk?s $17 million Bel Air McMansion
How It Happened
On 4 April, Musk became the platform?s largest single shareholder with a 9.2 per cent stake, which brought on a few weeks of speculation about Twitter?s future, as per The Guardian. Then, the entrepreneur was invited to join the board but instead, he declared a takeover bid on 14 April and offered to buy all of Twitter?s shares for US$54.20 each.
Image: Reuters/BBC News
Twitter?s board was initially reluctant and enacted an anti-takeover measure known as a poison pill that would have made an attempt prohibitively expensive. However, the board accepted the transaction a...
The post Elon Musk Buys Twitter In $44Bn Deal ? An Uncertain Future appeared first on LUXUO.
Image: NBC News
Elon Musk, currently the world?s richest man with Forbes? estimated net worth of nearly US$300 billion, has reached a US$44 billion deal to buy Twitter.
The 50-year-old is widely known as the CEO of Tesla and has brought the automotive company to reach great heights. As a passionate entrepreneur, investor, media proprietor and business magnate ? founder of SpaceX, The Boring Company, and co-founder of Neuralink and OpenAI ? Musk had also set his sights on one of the most popular social media networks.
READ MORE: Experience the Exceptional of Elon Musk?s $17 million Bel Air McMansion
How It Happened
On 4 April, Musk became the platform?s largest single shareholder with a 9.2 per cent stake, which brought on a few weeks of speculation about Twitter?s future, as per The Guardian. Then, the entrepreneur was invited to join the board but instead, he declared a takeover bid on 14 April and offered to buy all of Twitter?s shares for US$54.20 each.
Image: Reuters/BBC News
Twitter?s board was initially reluctant and enacted an anti-takeover measure known as a poison pill that would have made an attempt prohibitively expensive. However, the board accepted the transaction a...
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