Elon Musk’s mega deal for $ 44 billion to buy Twitter sheds light on the finances of the world’s richest man
(AP / PA)
Elon Musk sold shares of Tesla for nearly $ 5 billion, which could be used to finance his takeover on Twitter.
Mr Musk will pay $ 54.20 in cash per share for the San Francisco-based company, which will now be privately owned before the end of October.
The board said it struck a deal with Mr Musk on Monday and represented a 38% bonus on the closing price of Twitter on April 1, the day before the world’s richest man made his move for the company, announcing his nine per cent count.
Mr Musk is likely to make some significant changes to the social media platform after making several hints of his intentions in recent months. This comes after Musk Dorsey’s friend stepped down as chief executive and Parag Agraval took office.
According to some reports, the changes could include a new CEO, layoffs and even providing revenue from tweets by charging publishers to embed them.
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Key points
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Elon Musk wants to start charging for tweets – report
Elon Musk has reportedly made some suggestions on how Twitter could be improved under his ownership, including requiring publishers to embed tweets in articles.
As many people immediately pointed out on Twitter, this can probably only be circumvented by taking a screenshot of the tweet and uploading it as an image.
Other changes include replacing current CEO Parag Agraval with a new one, with the successor apparently already in order.
You can read the whole story here:
Anthony Cuthbertson April 29, 2022 1:17 p.m.
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Elon Musk sells shares in Tesla for $ 4.8 billion
In an apparent bid to fund its takeover on Twitter, Elon Musk sold 5.3 million shares of Tesla for approximately $ 4.8 billion, according to documents from the US Securities and Exchange Commission (SEC).
That’s only 3 percent of the shares of Tesla it held before the sale, and Musk says he will not sell more shares of Tesla at this stage.
Anthony Cutbertson April 29, 2022 09:55
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Twitter’s revenue reaches $ 1.2 billion, and daily users increase to $ 229 million as Elon Musk takes over
ICYMI: Twitter’s revenue reached $ 1.2 billion and daily users rose to $ 229 million as Elon Musk took over social media company.
On Thursday, Twitter posted its quarterly profit of $ 513 million, days after the company agreed to be sold to the billionaire.
In the three months to March this year, revenue rose 16 percent to $ 1.2 billion from the same period last year.
Gustav Kilander has the story.
Graham Massie April 29, 2022 05:01
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Elon Musk jokes that he buys Coca-Cola, returning “cocaine” back to the popular drink
ICYMI: The future owner of Twitter, Elon Musk, is known for falsifying his extremely active account on the platform with carefree jokes, along with posts sharing major acquisitions.
Now the billionaire entrepreneur, after agreeing to buy Twitter for $ 44 billion, has stirred up his followers by posting a tweet that has led many to delusion: is he seriously considering buying Coca-Cola or just trolling his more than 80 million followers?
Graham Massie April 29, 2022 04:01
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The US market rises with the news of the results of Meta, the parent of Facebook, despite concerns about GDP data
Wall Street saw the jump in technology and growth on Thursday after strong gains from the parent company Facebook Meta dispelled fears that the US economy contracted in the first quarter of 2022.
At 3 pm, the markets were enjoying their best day since May 2020, with all three major indices enjoying a sustained boost.
Bevan Hurley has the details.
Graham Massie April 29, 2022 03:03
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Trump finally publishes on his platform Truth Social – revives one of his most famous phrases
The silence would never continue.
Donald Trump has finally posted on his app Truth Social, a struggling rival on Twitter that launched earlier this year after an uncharacteristic month-long silence by the usually obscene former president.
Josh Marcus has the story.
Graham Massie April 29, 2022 02:15
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Musk tweets meme for political change
ICYMI: The future new owner of Twitter posted an animated meme that seems to show his conviction that the left wing of American politics has actually gone to extremes since 2008, not the right.
The cartoon with a figurine suggests that people with centrist views in 2008, labeled “I” in the cartoon, are now on the right because of this change.
Graham Massie April 29, 2022 01:14
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Marjorie Taylor Green says she wants to meet with Elon Musk to discuss Twitter bans
Marjorie spokesman Taylor Green said she hoped she could meet with Tesla CEO Elon Musk amid news that he had acquired Twitter.
Georgia’s right-wing congresswoman remarked at a Capitol press conference when she introduced legislation that would remove section 230 of the Communications Decency Act, which says service providers cannot be treated as publishers or carriers of information provided by others. supplier.
Graham Massie April 29, 2022 01:03
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Self-proclaimed “socialist” to “red pill” anti-blocking crusader: What is the policy of Elon Musk?
ICYMI: The tycoon Tesla and SpaceX have donated to both sides and are attacking everyone from Joe Biden through Donald Trump to unions and “placeholders”, but underneath all this there is a consistent ideology, writes I Dodds.
Graham Massie April 29, 2022 00:28
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Twitter: Will Elon Musk really buy a $ 44 billion social media platform?
Elon Musk has become the richest man in the world and one of the most polarizing figures in the world of business behind Tesla’s stunning commercial success and SpaceX’s engineering brilliance.
And after his $ 44 billion proposal for Twitter was accepted by the social media platform, Mr Musk is likely to add a third CEO role to his collection.
Graham Massie April 29, 2022 00:02
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