Elon Musk buys Twitter
$44 billion purchases a lot of change
Where it started
The whole kerfuffle beganearlier this monthwhen Musk purchased 9.2% of Twitter’s stock to become its largest shareholder.
Subsequently, the company offered Musk a board position in what most experts saw as a transparent attempt to stop the world’s richest man from purchasing more stock.
At first, Musk signaled his willingness to accept the position. But heeventually declinedbefore making a bid on the entire company. Why take a seat when you can grab the whole building?
Twitter wasreportedly reticent to accept the deal. Initial reports indicated the company’s board had unanimously voted for and instituteda so-called “poison pill” policyto prevent a potential hostile takeover.
In the interim, it appeared Twitter might’ve avoided the buyout. There was evensome speculationthat a suitor who was more amenable to the status quo might come along.
However, asCFRAsenior equity analyst Angelo Zinotold CNN, it became apparent that a “white knight” wasn’t going to show up and top Musk’s offer.
Where it’s going
Now that Musk’s in charge, denizens of the internet’s most politically-divided social media network can expect some changes.
In anow-public letterto the Twitter board, Musk stressed his impetus to elicit wholesale reform within the company as a means of achieving his personal goals for the app:
Story byTristan Greene
Tristan is a futurist covering human-centric artificial intelligence advances, quantum computing, STEM, physics, and space stuff. Pronouns:(show all)Tristan is a futurist covering human-centric artificial intelligence advances, quantum computing, STEM, physics, and space stuff. Pronouns: He/him
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