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By Sheila Dang (Reuters) - Overspending on Twitter Inc for $44 billion was the easy part. Now, Tesla Inc Chief Executive Elon Musk must prove why he believes that Twitter is worth 10 times that ...
The Securities and Exchange Commission sued Elon Musk in federal court on Tuesday for allegedly misleading shareholders when he bought hundreds of millions of dollars worth of Twitter stock in ...
The social media platform formerly known as Twitter is worth almost 80% less than two years ago when Elon Musk bought it, according to estimates from investment giant Fidelity.
(Reuters) -Elon Musk was sued on Tuesday by the U.S. Securities and Exchange Commission for having failed to timely disclose purchasing more than 5% of Twitter's common stock in March 2022. In a ...
According to the most recent available numbers, which we’ll get to in a bit, Musk and his co-investors have lost more than $25 billion on their Twitter takeover. That’s right. More than ...
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.
On April 25, 2022, Twitter agreed to a $44 billion buyout by Elon Musk, CEO of SpaceX and Tesla, one of the biggest deals to turn a company private. [11] [12] On July 8, Musk terminated the deal. [13] Twitter's shares fell, [14] leading company officials to sue Musk in Delaware's Court of Chancery on July 12. [15]
Elon Musk paid $54.20 per share for Twitter when he completed his acquisition on Oct. 28, 2022. ... the $1,000 you originally invested would now be worth $495, having lost more than half their ...