Revived August 8 | Last week, Musk filed a counterclaim with his lawyers, alleging that Twitter defrauded him. It still maintains that the number of real users is lower than the company states, and there are millions of spam or fake accounts on the network. bought the company if it can prove that its methodology is correct and that the numbers given to the Federal Securities Commission correspond to reality.
He then calls on the current head of the service, Parag Agrawal, to prove that in of the reported number of daily active users (237.8 million), less than 5% are fake and spam accounts.
Revived on July 13 | As it “promised”, it delivers. Twitter’s board of directors has filed a lawsuit against Musk in a Delaware court, demanding that the world’s richest man complete the pending acquisition, saying there was no wrongdoing or withholding of information on Twitter’s part that could have hindered the deal.
The company also mentions in the complaint that Musk repeatedly disparaged Twitter and the business agreement, which then affected the stock market and caused the stock price to fall.
Revived July 11 | For two months, Elon Musk thought about whether he would really complete the complete takeover of Twitter, but in the end he gave up on the acquisition. In a letter to the US Securities and Exchange Commission, he stated that the board of directors had wrongly informed him about the number of spam or fake accounts and had to conceal other details. in the bag, and wants to complete the deal under the original terms, i.e. by selling shares at $54.20, for a total of $43 billion. The board also says that if Musk backs out of the purchase agreement, it will fight the deal in court. To this Musk responded with humor.
Elon Musk is the best and worst thing to happen to Twitter (commentary)
Revived May 13 | Elon Musk has suspended steps leading to the acquisition of Twitter. He added a link to a May 2 Reuters report with the announcement. She deals with fake and spam accounts, estimating their share at 5%, but also admits that the real share may be higher. Musk now says he wants to verify that statistic. The fight with the boots is one of the key points for Musk in improving the social network.
The share price fell by about 20% in response to Musk’s announcement (compared to Thursday’s closing price). Commentators are speculating whether this is a tactic on Musk’s part to negotiate new terms and lower the original $44 billion price tag.
Revived April 28 | Elon Musk responded to numerous critics of his acquisition of Twitter (including ours), who drew attention to the absolute freedom of speech promoted by him for a long time, but which is not allowed anywhere in the world.
“By freedom of speech I simply mean that which corresponds to the law. I am against censorship that goes far beyond the law. If people wanted less freedom of speech, they would ask the government to legislate it. To break the law is therefore contrary to the will of the people,” writes Musk.
Revived April 25 at 9:00 PM | What was speculated about a few hours ago also happened. Twitter has announced that its board of directors has unanimously agreed to sell the company to Elon Musk. He is ready to pay 54.20 dollars per share, i.e. a total of 44 billion dollars. The deal will still have to be approved by the shareholders themselves and subsequently also by the regulatory authorities.
Meanwhile, Musk himself has already called on his biggest critics to stay on Twitter because he wants to respect freedom of speech.
Revived April 25 at 2:45 PM | According to Reuters, Twitter’s board of directors is ready to reach an agreement with Musk to sell the company for $43 billion, the last amount he does not want to negotiate. Close sources claim that the two sides could announce the deal today.
Reuters adds that the courtship may fall through at the last minute. After all, the board of directors will only recommend to the existing shareholders how to approach the acquisition. At the same time, the newspaper CNBC wrote yesterday that it is also considering alternative options and will talk about them on Thursday, when the company will publish financial results for the last quarter.
Revived April 14 | It is now clear why Elon Musk turned down a position on Twitter’s board of directors. According to the contract, he should not own more than 14.9% of Twitter shares in it, while Musk wants Twitter completely. Today, he filed a buyout proposal for the company and is offering $54 in cash per share. The whole of Twitter, which would disappear from the stock market with this step, would therefore cost him 44 billion dollars.
The amount is 38% higher than the day before the announcement of the purchase of the first shares. “I invested in Twitter because I believe in its potential to become a global platform for freedom of expression and I believe that freedom of expression is a social necessity for a functioning democracy,” states Musk in a message addressed to Bret Taylor, the head of Twitter’s board of directors, and the US Securities and Exchange Commission.
At the same time, he indicates that on the network is planning changes because, according to him, it is not working perfectly. “Since I invested, however, I realize that the company in its current form will neither prosper nor serve this social imperative. Twitter needs to be turned into a private company,,” added Musk. At the same time, he says that he will not negotiate and this is his only and last offer. If the board does not accept it, it will have to reassess its position as a shareholder.
Revived on April 11 | Everything is different again. Although Twitter CEO Parag Agrawal announced a week ago that new major shareholder Elon Musk would head to the company’s board, he now writes that Elon has turned down the position.
“The appointment to the board was to officially take effect on April 9, but Elon announced on that day that he would not be taking the position.” Despite assurances that it’s actually good, the statement sounds a bit like a sigh at the whims of an erratic billionaire. According to The Washington Post, Musk himself only commented on this turn with a smiley and later deleted the tweet.
The reason for refusing a seat on the board of directors may be that Musk is interested in getting a higher stake in the company. His contract states that as a member of the board of directors (and 90 days after the end of his mandate) he could not own more than 14.9% of Twitter shares. It currently holds a 9.2% stake.
Revived on April 6 | Twitter is actually working on a retweet feature. However, it did not come from Musk’s requirements, the company has been preparing the function since last year. When will it be deployed and how will the edited posts be identified, but we don’t know yet.
Revived 5. April | The new head of Twitter, Parag Agrawal, announced today that Elon Musk will also sit on the company’s board of directors. Even there, he will not yet have a direct influence on changing the company’s operation in any significant way. He does not yet have an executive role.
As an advisor and a person connected to the company’s director, he can speed up some processes. Today he teased his fans again, with a poll asking if they wanted to be able to edit already written posts on the network. This feature has been talked about on Twitter since its inception, but management never implemented the idea. But now Agrawal himself has joined in, referring to Musk’s survey and saying that the results will have an impact.
Original article from April 4| It wouldn’t be the first time that the boss and founder of Tesla Motors and SpaceX asked the public for their opinion and then “acted” on it. Or rather it was supposed to look that way. His next game lasted two weeks.
Elon Musk is “seriously considering” creating a new social platform with unlimited freedom of expression
On Friday, March 25, he asked the fans if they thought the Freedom of speech works for Twitter. The result of the poll was supposed to have a major impact. He already hinted in the past that he would set up his own social network following the example of Trump, but where anyone could write really anything.
Two-thirds of people answered him in a poll that Twitter does not respect the principles of freedom of speech . This could theoretically be the impetus to create an alternative, but the result was more surprising. Musk has now bought a large part of Twitter.
According to Bloomberg, he now owns 73.5 million shares (9.2% share) worth 2.89 billion dollars. This makes him the largest shareholder, but at the same time still only a minority with no influence to make any changes in the company. It is therefore a question whether he wants to acquire another share, or by buying he has only confirmed that he really believes in the network.
For Musk, Twitter is the main communication channel. With 80 million followers, he is the eighth most successful account, ahead of only former US presidents, female singers, Ronaldo and Justin Bieber.