TWITTER BUYOUT
Elon Musk sues Wachtell law firm to recoup fees from Twitter buyout
The world's richest person, who also runs Tesla Inc and SpaceX, called the $90 million payout "unconscionable," given that Wachtell, Lipton, Rosen & Katz had billed less than one-third that sum for its few months of work on the Delaware lawsuit.
Twitter not paying PR firm's bills after Musk buyout: lawsuit
The public relations firm said Twitter ended its contract on Nov. 16, three weeks after the buyout closed, and no longer communicates about its payment demand beyond an automated pledge to "get started processing it right away."
Judge throws out shareholder lawsuit against Elon Musk over Twitter buyout
A class-action lawsuit against Elon Musk, claiming he cheated Twitter shareholders multiple times during his $44bn purchase of the social media company last year, has been dismissed by US District Judge Charles Breyer in San Francisco. Breyer said the lawsuit's plaintiff, William Heresniak, lacked standing since he contested "wrongs associated with" Musk's buyout, rather than the buyout's fairness. He also found no evidence of Musk aiding two friends, Jack Dorsey and Egon Durban, then on Twitter's board, breach their fiduciary duties by favoring their interests with Musk's support.
Twitter timeline 2022: From Elon Musk's entry as CEO to his planned departure
On Tuesday, Musk said he would step down as CEO after a Twitter poll he launched on his leadership.
"Trying to destroy free speech in America": Musk lashes out at activist groups
The Twitter boss tweeted that the company suffered a huge drop in revenue because of pressure on advertisers from these groups.
Top Twitter execs to take home $88 million, Parag Agrawal richer by $38.7 million
Twitter's top executives stand to make a total of $88 million between them -- Parag Agrawal alone will get $38.7 million -- after being ousted by Elon Musk who has finally taken over the micro-blogging platform for $44 billion.
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'Excited' Elon Musk calls Twitter an asset with 'incredible potential' but feels he is overpaying
Elon Musk talked about the $44 billion Twitter buyout, which he spent months trying to get out of.
‘Not doing Twitter for money.’ Elon Musk says it is important to have transparent means to exchange ideas
Musk said that the alternative would be to splinter debate in various social media bubbles.
Elon Musk changes Twitter username to ‘Naughtius Maximus’ after shareholders greenlit $44 bn takeover deal
The businessman later complained about being “suppressed” on Twitter.
Twitter finally gives in? Micro-blogging platform to share data on bots with Musk for $44 bn buyout deal
Elon Musk made a $44 billion buyout deal to Twitter in April this year.
Twitter's Kayvon Beykpour speaks out after being ‘asked’ to leave by CEO Parag Agrawal
While Twitter employees fear if Elon Musk will scale back the site's vast content monitoring system, Kayvon Beykpour lauded his team for their work on new goods and safety features.
Elon Musk, Twitter are sued by shareholder over $44 billion takeover
The lawsuit seeks to delay the merger's closing until at least 2025, declare that Twitter directors breached their fiduciary duties, and recoup legal fees and costs.
Elon Musk looks to quintuple Twitter revenue to $26.4 billion by 2028
In his pitch deck, Musk claimed he would increase Twitter's annual revenue to $26.4 billion by 2028, up from $5 billion last year.
Twitter courts advertisers amid uncertain future under Elon Musk
The Tesla chief executive, who is buying Twitter for $44 billion, has tweeted that the platform should not have ads so it can have more control over its content moderation policies.
Elon Musk says Twitter may charge slight fee for commercial, government users
Earlier this week at the annual Met Gala in New York on Monday, Musk also said he would make Twitter transparent about how tweets are promoted or demoted and wanted its software to be publicly available for critique.
This is how Twitter's Edit button will finally work
The Edit button will show the user the entire original content, and the user can then either delete the whole post or start over, as the tool appears not just for grammatical errors.
Elon Musk says he wants to boost Twitter use from 'niche' to most Americans
Elon Musk said he wanted the platform to be "as broadly inclusive as possible, where ideally most of America is on it and talking," and as trusted as possible.
Elon Musk and other tech billionaires are out of control
Musk’s move on Twitter also is hard to square with the concept of fiduciary responsibility. He does not want to buy Twitter to make it a better business — “I don’t care about the economics at all,” he recently said — but to realize his ideas about free speech.
Every decision we made was my responsibility; biggest failing was not being quick to improve: Twitter’s Jack Dorsey
Jack Dorsey also stated that he is opposed to banning accounts from the platform indefinitely unless they are engaged in unlawful activities.
Twitter CEO Parag Agrawal faces employee anger over Elon Musk attacks at company-wide meeting
Executives said during the meeting that the employee attrition rate has not changed compared to the levels before the news of Musk's interest in buying the company.
Jack Dorsey, Peter Thiel said to be behind Elon Musk's Twitter takeover: WSJ report
Both Musk and Dorsey believed that Twitter would be better off as a privately held company, according to former Twitter executives. They also believe that the microblogging site should be viewed less as a profit machine and more as a public good.
Elon Musk sells $8.5 billion in Tesla stock as he readies to acquire Twitter
Before Elon Musk's deal for Twitter is completed, shareholders will have to weigh in. So will regulators in the US and in countries where Twitter does business.
Elon Musk reveals plans to cut pay, monetise tweets as part of pitch to lenders
Elon Musk had to convince the banks that Twitter produced enough cash flow to service the debt he sought. In the end, he clinched $13 billion in loans secured against Twitter and a $12.5 billion margin loan tied to his Tesla stock. He agreed to pay for the remainder of the consideration with his own cash.
Twitter admits to overstating daily user numbers for three years
Twitter, as part of its user number correction, published updated figures for Q4 2021, saying that it registered 37.5 million in mDAU in the US and 177.3 million internationally.
Elon Musk sells Tesla shares worth $4 billion, says no more sales planned
Tesla Inc lost ground on Thursday amid investor concerns that Musk may have to sell Tesla shares to fund his $21 billion equity contribution to his $44 billion buyout of Twitter Inc.
Investors fret over potential Elon Musk U-turn in $44 billion Twitter buyout
Traders fretted that Musk may not have enough money sitting around to fund his $21 billion cash contribution and could decide against selling some of his Tesla Inc shares to come up with it.
Elon Musk and Twitter: What we know, what we don’t about $44 billion deal
The announcement Monday confirmed many of the details that had already been reported -- or tweeted -- about the transaction. It also left many unanswered questions. Here’s what we know so far, what still needs to be clarified, and what might happen next.
Elon Musk’s $21 billion mystery: Where will he get cash for Twitter?
Musk, 50, has outlined the $13 billion in bank financing secured by the social-media company and the $12.5 billion backed by a pledge of some of his $170 billion Tesla Inc. stake. But he’s been short on details about how he’ll fund the remainder.
Twitter-Musk buyout talks enter final lap
The social media company is working to hammer out terms of a transaction and could reach an agreement as soon as Monday if negotiations go smoothly, according to the people, who asked not to be identified because the information is private. Musk is lining up partners for the acquisition and continues to speak to potential co-investors, one of the people said. The situation is fluid, and talks could drag on longer or fall apart.
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