Elon Musk Twitter Deal Timeline: From March to October, know what happened when?
The world's richest man and Tesla CEO Elon Musk has finally acquired Twitter . He has completed the deal to buy the social media company for US $ 44 billion. Since then, Musk has been seen in action. According to reports, Twitter CEO Parag Agarwal and two other senior managers have been fired. However, this Twitter-Musk deal was full of twists and turns. Sometimes yes-sometimes no, this deal has reached its destination through accusations, slander, court-courts.
The full story of the deal between Elon Musk and Twitter begins in March this year. Let us know when and how this deal started? Why did Musk back down? What happened in court, and why did Musk eventually have to go back on the deal?
Where did the story start?
No one paid much attention to Elon Musk's initial investment in Twitter. In January this year, he started buying shares of Twitter. By the time of March, he had five percent shares of Twitter.
This is where the whole story of the deal between Elon Musk and Twitter begins. Actually, Musk had questioned Twitter's policies regarding freedom of expression in one of his tweets. He had also said that the creation of a new social media platform would be seriously considered. Then some people suggested to Musk that he should buy Twitter instead of creating a new platform.
Know when what happened?
April 4 : Elon Musk becomes the largest shareholder with 9 percent stake in Twitter. At that time, Musk had 7.35 million shares worth $3 billion.
April 5 : Elon Musk is offered a place on Twitter's board with conditions. Twitter CEO Parag Agarwal gave this information by tweeting.
April 9: For the first time, the tussle between Elon Musk and CEO Parag Aggarwal came to the fore, when there were sharp questions and answers between the two through tweets. Musk tweeted "Is Twitter dying?" In response, Agarwal called the criticism unhelpful. After this, Musk talked about the acquisition of Twitter.
April 11: Twitter CEO Parag Agarwal announced that Musk would not join the Twitter board.
April 14: Elon Musk offers to buy Twitter after being dropped from the board. It offered to buy Twitter for $44 billion at $54.20 per share, after which the deal was approved by shareholders.
April 15: Twitter announces 'Poison Pill', a protective strategy to avoid forced takeovers.
April 21: Musk raises $46.5 billion in funding to buy Twitter. After which the pressure of dialogue on the Twitter board increased.
April 25: Musk signs a deal to buy Twitter for $44 billion and take the company private. Musk then said that he felt Twitter was not living up to its potential as a platform for free speech.
April 29: According to regulatory filings , Musk sold Tesla shares worth $8.5 billion to fund the deal.
May 5: Musk further strengthens his offer to buy Twitter with a commitment of more than $7 billion from a diverse group of investors.
May 10: Musk hints at changes in Twitter, saying he will lift the ban on Donald Trump's Twitter account.
May 13: Musk temporarily puts on hold his plan to buy Twitter from Russia. He cited the number of spam and fake accounts on social media platforms. After this, Twitter shares declined, while Tesla shares rose sharply.
June 6: Musk threatens to break deal with Twitter over bot account information. He accused the company of not sharing the correct information of the bot account.
July 8: Musk again threatens to break the deal. This time Musk said that the company has not informed him about the fake accounts.
July 12: Twitter appeals against Musk in court for withdrawing from the deal, Musk also reached court against Twitter.
July 19: The court said that the hearing in the case would start from October.
August 23: Twitter's former security chief alleges that the company misled regulators to defend its poor cyber security.
October 5: Musk talks about moving forward on his first proposal to acquire Twitter. On this, Twitter said that after getting the offer, it will complete the deal.
October 6: Court defers hearing on October 17 and asks both sides to reach agreement and complete the deal by October 28.
October 20: According to a Washington Post report, Elon Musk told his potential investors that he plans to take over the company as well as lay off about 75% of its employees.
October 26: Musk arrives at Twitter Head Quarter in San Francisco ahead of Twitter deal. During this, he also brought a sink with him. Musk has also changed his Twitter bio. In the bio, he has written the chief tweet for himself.
Elon Musk Twitter Deal Timeline: From March to October, know what happened when?
The world's richest man and Tesla CEO Elon Musk has finally acquired Twitter . He has completed the deal to buy the social media company for US $ 44 billion. Since then, Musk has been seen in action. According to reports, Twitter CEO Parag Agarwal and two other senior managers have been fired. However, this Twitter-Musk deal was full of twists and turns. Sometimes yes-sometimes no, this deal has reached its destination through accusations, slander, court-courts.
The full story of the deal between Elon Musk and Twitter begins in March this year. Let us know when and how this deal started? Why did Musk back down? What happened in court, and why did Musk eventually have to go back on the deal?
Where did the story start?
No one paid much attention to Elon Musk's initial investment in Twitter. In January this year, he started buying shares of Twitter. By the time of March, he had five percent shares of Twitter.
This is where the whole story of the deal between Elon Musk and Twitter begins. Actually, Musk had questioned Twitter's policies regarding freedom of expression in one of his tweets. He had also said that the creation of a new social media platform would be seriously considered. Then some people suggested to Musk that he should buy Twitter instead of creating a new platform.
Know when what happened?
April 4 : Elon Musk becomes the largest shareholder with 9 percent stake in Twitter. At that time, Musk had 7.35 million shares worth $3 billion.
April 5 : Elon Musk is offered a place on Twitter's board with conditions. Twitter CEO Parag Agarwal gave this information by tweeting.
April 9: For the first time, the tussle between Elon Musk and CEO Parag Aggarwal came to the fore, when there were sharp questions and answers between the two through tweets. Musk tweeted "Is Twitter dying?" In response, Agarwal called the criticism unhelpful. After this, Musk talked about the acquisition of Twitter.
April 11: Twitter CEO Parag Agarwal announced that Musk would not join the Twitter board.
April 14: Elon Musk offers to buy Twitter after being dropped from the board. It offered to buy Twitter for $44 billion at $54.20 per share, after which the deal was approved by shareholders.
April 15: Twitter announces 'Poison Pill', a protective strategy to avoid forced takeovers.
April 21: Musk raises $46.5 billion in funding to buy Twitter. After which the pressure of dialogue on the Twitter board increased.
April 25: Musk signs a deal to buy Twitter for $44 billion and take the company private. Musk then said that he felt Twitter was not living up to its potential as a platform for free speech.
April 29: According to regulatory filings , Musk sold Tesla shares worth $8.5 billion to fund the deal.
May 5: Musk further strengthens his offer to buy Twitter with a commitment of more than $7 billion from a diverse group of investors.
May 10: Musk hints at changes in Twitter, saying he will lift the ban on Donald Trump's Twitter account.
May 13: Musk temporarily puts on hold his plan to buy Twitter from Russia. He cited the number of spam and fake accounts on social media platforms. After this, Twitter shares declined, while Tesla shares rose sharply.
June 6: Musk threatens to break deal with Twitter over bot account information. He accused the company of not sharing the correct information of the bot account.
July 8: Musk again threatens to break the deal. This time Musk said that the company has not informed him about the fake accounts.
July 12: Twitter appeals against Musk in court for withdrawing from the deal, Musk also reached court against Twitter.
July 19: The court said that the hearing in the case would start from October.
August 23: Twitter's former security chief alleges that the company misled regulators to defend its poor cyber security.
October 5: Musk talks about moving forward on his first proposal to acquire Twitter. On this, Twitter said that after getting the offer, it will complete the deal.
October 6: Court defers hearing on October 17 and asks both sides to reach agreement and complete the deal by October 28.
October 20: According to a Washington Post report, Elon Musk told his potential investors that he plans to take over the company as well as lay off about 75% of its employees.
October 26: Musk arrives at Twitter Head Quarter in San Francisco ahead of Twitter deal. During this, he also brought a sink with him. Musk has also changed his Twitter bio. In the bio, he has written the chief tweet for himself.
October 28:
After months of drama, the world's richest man Elon Musk has finally become the new boss of Twitter . The deal between Elon Musk and Twitter has been completed. According to reports, after the completion of the deal, Musk has fired Twitter CEO Parag Agrawal as well as many top executives of the company.
In his tweet, Musk has set some of his goals for the company, he wrote in his post-
" There has been a lot of speculation about this. Most of it has gone wrong. I took to Twitter because the future of civilization requires a common digital town square where different ideas can be debated in a healthy way, without resorting to violence. There is a great danger at the present time that social media will divide into extreme right and ultra left voices, which will create more hatred and which will divide our society. In doing so, the opportunity for dialogue is lost."
That's the news ...
Have a good day 😊
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