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The business magnate Elon Musk initiated an acquisition of American social media company Twitter, Inc. on April 14, 2022, and concluded it on October 27, 2022. Musk had begun buying shares of the company in January 2022, becoming its largest shareholder by April with a 9.1 percent ownership stake.
The month of the acquisition, Twitter changed both its page for real-time searches and its search API to use Summize's product. [2] Wired said, "Summize is a natural fit for Twitter and should help the service be a little more approachable." [2] 2 November 24, 2008: Values of n Social software development
Twitter's shares fell, [14] leading company officials to sue Musk in Delaware's Court of Chancery on July 12. [15] On October 4, Musk announced his intention to purchase the company as he had agreed, for $44 billion, or $54.20 a share; [16] the agreement closed on October 27. By October, 2024, X was worth less than 80% of what it was acquired ...
Elon Musk's net worth has soared since onset of the pandemic. And even when he loses billions, he's still significantly wealthier than Jeff Bezos.
After stewing over the company’s problems from Ellison’s Hawaii estate—and posting criticisms of Twitter on Twitter—he made the decision to purchase the company, according to Isaacson.
What stops one of the world's richest men from buying a company he covets? Explaining poison pills, hostile takeovers, white knights and other terms and concepts. Buying Twitter is complicated.
Claim that Musk agreed to buy CNN started as satire Musk, the world's richest person , completed a deal to purchase Twitter, which he later renamed X , for $44 billion in October 2022.
Elon Musk completed his acquisition of Twitter in October 2022; Musk acted as CEO of Twitter until June 2023 when he was succeeded by Linda Yaccarino.In a move that, despite Yaccarino's accession, was widely attributed to Musk, [1] [2] Twitter was rebranded to X on July 23, 2023, [3] and its domain name changed from twitter.com to x.com on May 17, 2024.