Tesla, SpaceX, and now Twitter. Elon Musk will officially acquire the social media platform for $44B
A platform to promote free and open speech on the service. Introducing Twitter 2.0. It's not officially official, but it may very well just be official. After weeks of potential and 11 days since an official offer, Tesla and SpaceX CEO, Elon Musk, seems to have convinced Twitter to sell itself to him.
Take all the politics out of the equation, this is a historic deal. First off, have we ever witnessed a person who is in charge of three very groundbreaking and world changing companies? It's incredible. But as of today, the world’s richest man is in charge of one of the world’s most influential social media platforms.
Money clearly talks, but it is quite crazy how fast this all came together. The stars aligned up and Musk lined up the 46 billion to acquire the company. The board met and realized that the offer was too lucrative to pass up. Even with all the uncertainty and financials, the timeline of events that lead to this deal will be talked about for years to come.
The Timeline of Elon Musk's Twitter Acquisition
January 31st, 2022: Elon Musk starts buying shares of Twitter daily.
April 4th: Musk's now owns over 9% of stake in Twitter
April 5th: Twitter offers him a board seat
April 8th: Vanguard Group announces they now have over 10% stake
April 9th: Musk denies board seat
April 12th: Twitter investor Marc Bain Rasella files lawsuit on Musk
April 14th: Elon offers to buy Twitter for $43 billion, plan to take private
April 14th: Twitter stock falls
April 15th: Twitter’s board of directors plans “poison pill” strategy against Musk’s takeover bid
April 21st: Musk has secured the financing for Twitter Bid, with over $20 billion coming from Morgan Stanley loans and the remainder coming from straight cash.
April 25th: Twitter set to accept Elon Musk's $43 billion buyout offer
Twitter's stock is up 33% this past month and 9% this past week after the Elon Musk news became realistic. The planned Musk offer is to buy all the shares of the company he does not currently own for $54.20 a piece.
Photo: Google Finance
Musk has repeatedly stressed that his goal is to bolster free speech on the platform and work to “unlock” Twitter’s “extraordinary potential.” Hopefully this can be done. Either way, today is a major milestone in social media and business technology history.
I am all for free speech, but maybe we can get an edit button on Tweets too?