Billionaires always have a lot on their minds nowadays since they’ve got enough money to provide for a country. After all, who won’t get bored possessing all the riches of the world? Elon Musk is one such billionaire, having used his platform and wealth to explore the curiosities of mankind, mostly on land but also in space!
Popularly known as the CEO of aerospace manufacturer SpaceX, Musk’s company was the first private company to send a spacecraft to the International Space Station, among many other achievements. On land, the 51-year-old has made waves in the field of social media, not by going viral with memes and tweets (which he has done a lot), but by buying the platform itself, and all fingers point to Twitter.
Elon Musk’s Acquisition Of Twitter Took Its Time
Elon Musk owned 9.1% of the stock of the popular social media company Twitter.Inc, which he bought for $2.64 billion. He would follow that up and make an official proposition to purchase the company back on April 14, 2022, for a staggering $43 billion.
His proposal was eventually met with an invitation to join the board of directors for Twitter. He politely declined on second thought after accepting the offer, all on the suspicion of a ‘poison pill’ strategy from the company in an attempt to resist a hostile takeover.
However, the deal still went through as the board of directors unanimously okayed the deal for a buyout offer of $44 billion. The problem came up again when Musk announced that he was planning to call off the deal, which the Tesla CEO justified by accusing Twitter of failing to agree on the crackdown on spambots on the company’s social media platform.
Things got heated as what followed was a lawsuit by Twitter filed against Musk, the trial was scheduled to take place on October 17, just a week ago. But the trial never materialized, getting called off when Musk once again agreed to finalize the acquisition at the beginning of the month.
The trial will, however, be rescheduled to a later date if the acquisition doesn’t close by October 28, a date that Musk had targeted on which he’ll be looking to close the deal.
Elon Musk Has His Reasons To Buy Twitter, Here’s What Twitter Thinks Of It
It’s highly expected from Elon Musk to be close to the Twitter acquisition deal by tomorrow, which is October 28. Meanwhile, here’s what the founder of The Boring Company has to say about this whole ordeal.
In a tweet posted on his Twitter account, Musk wrote quite a lot of words regarding the Twitter deal, and why he chose to buy out the platform as a company. The tweet in question-
Dear Twitter Advertisers pic.twitter.com/GMwHmInPAS
— Elon Musk (@elonmusk) October 27, 2022
When the deal is complete, the social-media company will be taken private. That’s all fine and dandy, but what do users on Twitter think about the whole thing? Here’s what they have to say-
this man said “helping humanity” thru a digital forum as if he doesn’t have the money to end all the world problems
— J@LIL (@j_alill) October 27, 2022
Sounds like a multiplayer video game –
A “free-for-all hellscape, where anything can be said without consequence” is exactly what he promised his fan base, though.
— inanimate carbon nanotube (@infinitehexagon) October 27, 2022
To be fair, he has the money to keep it floating for more than a year-
all this plans flop watch him sell it within 6 months
— issa phae | TIW | ILLELLA (@mizphantasm) October 27, 2022
Why not? They’re friends –
watch him give kanye his account back
— Britt ~ fan acc (@taysrep89) October 27, 2022
It all seems like a lie to this user-
How does buying twitter for millions of dollars doing something to help humanity…
— Missy (@Vessyteena) October 27, 2022
Were Musk’s hands tied?-
plsss…he bought it cause he was gonna get sued and lose billions either way, he had no choice
— mars (mastermind) (@amarycanqueen) October 27, 2022
Reactions to Elon Musk’s acquisition of a major social media platform like Twitter have been mixed. With most worrying that it will bring about a wave of disinformation and unprecedented harassment to all users across the platform.
Source: Twitter
