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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.
In a complaint filed in Washington, D.C. federal court, the SEC said Musk violated federal securities law by waiting 11 days too long to disclose his initial purchase of 5% of Twitter's common shares.
Elon Reeve Musk, the eldest of three children, was born to Maye and Errol Musk in Pretoria, South Africa on June 28, 1971. His mother was Canadian, but he grew up in his father’s homeland of ...
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 U.S. Securities and Exchange Commission sued Elon Musk on Tuesday, alleging failure to timely disclose that he bought more than 5% of Twitter's stock in 2022 before he took over the social ...
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 is the wealthiest person in the world, with an estimated net worth of US$436 billion as of January 22, 2025, according to the Bloomberg Billionaires Index, [172] and $426 billion according to Forbes, [173] primarily from his ownership stakes in Tesla, Inc. and SpaceX. [174]
Twitter may now be worth one-third of what Elon Musk paid for the social media platform just seven months ago. Financial services company Fidelity has reduced the market value of its equity stake ...