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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.
That’s a 78.7% drop. Buying Twitter was a $46.5 billion deal: $44 billion went to shareholders and about $2.5 billion went to expenses. Musk and his coinvestors put about $33 billion into the ...
Under a series of chief executives, Twitter did figure out how to squeeze more money out of those users. Revenue grew from $1.4 billion in 2014 to more than $5 billion in 2021.
Twitter announced on Monday that it has entered into a deal to be acquired by Tesla CEO Elon Musk for $44 billion.Twitter shareholders will receive $54.20 per share, and when the deal is finalized ...
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.
Musk's money manager wrote to investors that in recent weeks the family office had received "numerous inbound requests to invest in Twitter." [ 102 ] [ 103 ] The Wall Street Journal reported in January 2023 that talks had been held to raise up to $3 billion to pay down some of the $13 billion in bank debt incurred in the deal, which includes a ...
If nothing else, $44 billion has bought Twitter power-user Elon Musk status as the No. 1 most-followed account on the social network. As of Thursday morning, Musk had 133.088 million users — up ...
Twitter, officially known as X since 2023, is a social networking service.It is one of the world's largest social media platforms and one of the most-visited websites. [4] [5] Users can share short text messages, images, and videos in short posts commonly known as "tweets" (officially "posts") and like other users' content. [6]