Elon musk will Buy twitter for real this time. If new revelations are forthcoming, the Elon Musk/Twitter saga will come to an end. Musk, the Tesla CEO and the world’s current richest person, and Twitter have been at odds in recent months over the former’s intended purchase of the microblogging platform, but it now appears that Musk’s $44 billion Twitter takeover will actually happen.
If new information emerges, the Elon Musk/Twitter saga will come to an end.
Musk, the Tesla CEO and the world’s current richest person, and Twitter have been at odds in recent months over the former’s intended purchase of the microblogging platform, but it now appears that Musk’s $44 billion Twitter takeover will take place.
The proposed deal became acrimonious between Musk and Twitter officials, leading to a proposed lawsuit after Musk claimed Twitter misled him about the number of bots available on the Twitter site.
The Tesla CEO went on to accuse Twitter of having approximately 20% of its user base made up of ‘fake/spam bots.’
Twitter, for its part, insisted that bots account for less than 5% of its “monetizable daily active users,” a subset of its user base used as a metric for advertisers.
With the news of Musk’s resignation becoming public, Twitter’s fortunes have risen sporadically in the last few hours, with its stock price rising more than 12% to above $47 per share.
On the letter, the controversial and sometimes chaotic Musk will be hoping to move forward with the deal “provided that the Delaware Chancery Court enter an immediate stay of the action, Twitter vs. Musk, et al. and adjourn the trial and all other proceedings.” This means that the Tesla’s henchman is open to the idea of moving on with the deal on the premise that the lawsuit does not proceed. Elon musk will Buy twitter for real this time
Musk has also late Tuesday tweeted that its impending purchase of Twitter would provide an “accelerant” to a different project altogether, the project he dubbed as “X, the everything app.”
Even though the details of the new software by Musk is still subject of mystery, he had previously given a hint of the idea when in one of his many rants said he would launch a social media site called X if the Twitter plan fell through.
It remains to be seen how the X software or site will fuse into the new Twitter acquisition.
