On 4 April 2022, it was disclosed that Musk had quickly surpassed other investors to possess the largest share in Twitter, with a 9% interest valued at around $3bn. He also began contacting Twitter board members to inform them about his rising stocks, as well as starting a conversation about the potential of joining Twitter’s board. Musk began purchasing Twitter stock in January 2022 and increased his holdings by about 5% by March. The billionaire, who is the largest stakeholder and CEO of Tesla, began negotiating with Twitter earlier in 2022. It took Elon Musk some time but he has completed his original $44bn deal to purchase Twitter. How much of Twitter does Elon Musk own?.How has Twitter’s share price fluctuated?.
#Twitter elon musk created by humans update#
Indeed, the latest update has been the announcement of the total rebranding of both the company and the website itself, now called X.com rather than. In addition, in April 2023, Musk merged Twitter with a new shell company called X Corp and, consequently, Twitter Inc virtually does not exist anymore.
Twitter Inc is now called X Corp, and has now become X.com (Photo: kavi designs/Shutterstock)īetween thousands of staff losing their job and policies quietly changing, Twitter is not what it used to be.
As a consequence, the two parties had to attend a trial which then set a specific deadline for the deal to be closed. The buyout was characterised by uncertainty and clashes between Musk and the Twitter board, which is now non-existent. With the completion of a $44bn deal for the acquisition of Twitter, the corporation and brand dropped 65% in ad revenues until January 2023, and traffic also witnessed a significant decline of 7.7% in March 2023 compared to the same month in 2022. Since Elon Musk took over the company in October 2022, however, many changes, both positive and negative, started making their way through. Twitter, or rather X, has cemented itself as one of the most influential and popular social media platforms of the past decade.
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